Somalia confirms presence of uranium, lithium, and cobalt deposits

President Hassan Sheikh Mohamud has announced the confirmed presence of uranium, lithium, and cobalt deposits within Somalia. The announcement was made during the opening of the Somalia Development Financing Forum in Mogadishu, an event aimed at discussing economic expansion, investment, and increasing government revenue.

While the president confirmed the existence of these critical minerals, he did not provide specific details regarding the size, exact locations, or the commercial viability of the deposits. He emphasized that the global demand for such minerals makes their presence in Somalia a significant opportunity.

To capitalize on these resources, Mohamud noted that the country requires increased investment, technical expertise, and international cooperation. He stated that the administration is working to improve the business environment by focusing on security, transparent regulations, and the development of capable institutions to build investor confidence. This mineral discovery aligns with ongoing government efforts to advance the nation's oil and gas sectors and broader natural resource industries, including fisheries and agriculture.