According to the Fraser Institute’s 2025 Annual Survey of Mining Companies, mining executives rank jurisdictions based on geological potential and government policy, including taxation, regulatory certainty, and infrastructure quality.
The survey, which polled over 2,300 executives, combines a Policy Perception Index (PPI) and a Best Practices Mineral Potential Index to produce the Investment Attractiveness Index (IAI).
Globally, the most attractive mining jurisdictions continue to be in North America and Oceania, led by Nevada, Ontario, and Saskatchewan. Africa, despite its vast resources, still faces significant hurdles.
Africa’s survey results show that while the continent is rich in minerals, policy, governance, and local content measures are decisive in attracting and sustaining mining investment.
Here are Africa’s top 10 mining jurisdictions in 2025 according to survey data from the Fraser Institute.
Within this context, some countries have made notable strides. Botswana tops the continent, combining strong geological potential with favorable mining policies, followed by Morocco and Zambia.
Africa’s Mining Revenue Challenge
Nationalization attempts, higher royalties, and stricter local content rules have emerged in countries such as the AES region, South Africa, and Zimbabwe, reflecting a push to ensure that Africa’s mineral riches translate into jobs, infrastructure, and domestic revenue rather than primarily benefiting multinationals.
These measures aim to strike a balance: keeping foreign investment while increasing the economic benefits for local populations.