Africa's Resource Rush: U.S. Minerals Push, Gulf Capital, and the Race for Gas and Gold
July 27, 2026: From a $500M U.S. critical minerals program to the $25B Nigeria-Morocco pipeline and Mali's gold slump, here's the latest on Africa's energy and mining sectors.
Welcome to the Monday edition of Insights Dispatch, our flagship brief of the latest developments bridging Africa and the Gulf
Washington Unveils $500M U.S.-Africa Critical Minerals Investment Push
The U.S. has launched a $500 million U.S.-Africa Strategic Investment Program focused on securing access to Africa’s critical minerals. The program, administered by the State Department’s Bureau of African Affairs, will award up to 10 grants of $5-50 million to strengthen mineral supply chains and expand U.S. business opportunities across sub-Saharan Africa. The initiative also supports geological mapping, regulatory reform, and workforce development. It marks a pivotal shift toward prioritizing private investment over traditional foreign aid.
Gulf advancements into Africa’s critical mineral landscape has largely been done in partnership with Washington. In March, American investment firm Cove Capital and Saudi conglomerate AHQ announced a joint multibillion-dollar fund to invest in critical minerals projects across Africa. The new program will likely pave the way for similar future partnerships.
ECOWAS Backs $25bn Nigeria-Morocco Gas Pipeline
West African leaders have signed an intergovernmental agreement giving regional backing to the African Atlantic Gas Pipeline, a roughly 6,000 kilometer project set to carry Nigerian natural gas along Africa’s Atlantic coastline to Morocco. The pipeline would then connect to the existing Maghreb-Europe pipeline, extending supply to Spain and beyond.
The plan envisions moving 30 billion cubic metres of gas annually, with about 15 billion destined for Morocco and onward to Europe. Estimated at $25-27bn, the project still requires investors and a final investment decision, with construction targeted to start in 2028.
North Africa’s energy sector has become a focal point for Gulf foreign investment: in late June, Saudi Arabia’s Acwa Power secured a new permit in northern Morocco tied to the Khalladi wind project. As the African Atlantic Gas Pipeline searches for investors, those in Riyadh and elsewhere in the GCC are likely to step forward.
Mali’s Gold Output Set to Stay Below 60 Tons Through 2029
Mali’s mines ministry expects industrial gold production to remain under 60 metric tons annually through 2029, according to a government plan seen by Reuters, extending a decline tied to a revised mining code and disputes with foreign miners.
The 2026-2029 forecast projects output at 43.2 tons in 2026, rising to 51.2 tons in 2027, peaking at 57 tons in 2028, then easing to 50 tons in 2029. That follows a drop to 42.2 tons in 2025 from 54.8 tons in 2024, well below the 2023 record of 66.5 tons.
Gulf mining countries, increasingly focused on expanding gold supply chains throughout Africa, will watch the developments closely. Despite Mali’s gold wealth, the country’s tightening controls may deter GCC companies from entering the market.