West African nations reform mining policies and seek strategic mineral investment

West African nations are implementing new strategies to manage and attract investment in their extractive resource sectors.

In Senegal, Prime Minister Mouhamadou Al Amine Lo has announced a new policy focused on economic sovereignty and increased control over mining operations. The government is currently renegotiating approximately thirty mining conventions through an ad hoc commission. A new Mining Code is expected to be adopted by the end of 2026. The administration aims to balance national interests with legal certainty for investors, following a principle of “neither brutality, nor naivety.”

Mali is actively seeking to attract investment from the United States to diversify its foreign partnerships, specifically targeting its gold, manganese, and lithium industries. This move comes as Mali seeks to reduce reliance on existing partners amidst intensifying competition between Washington and Beijing. While Chinese firms like Ganfeng Lithium hold dominant stakes in major Malian lithium projects such as Goulamina, Bamako is presenting opportunities to the U.S. to broaden its economic options in the strategic minerals market.