DRC Entered Africa’s Top 10 Mining Jurisdictions for the First Time in 2024
DRC Ranked Among Africa’s Top 10 Most Attractive Mining Destinations in 2024 Fraser Institute Report
The Democratic Republic of Congo (DRC) has entered the list of Africa’s top 10 most attractive mining jurisdictions, according to the 2024 Fraser Institute rankings.
While the DRC is positioned at the bottom of the regional top 10, its inclusion marks a notable shift in investor perception within the continent’s mining sector.
However, Morocco emerged as the most attractive mining destination in Africa, ranking 18th globally out of 82 jurisdictions assessed.
The North African nation—Africa’s leading silver producer and the continent’s top exporter of phosphates—also supplies smaller quantities of copper and cobalt.
Morocco’s consistent performance is attributed to its stable business climate and investor-friendly mining policies.
The country has maintained a podium position among Africa’s top mining jurisdictions since 2021. Notably, Morocco reclaimed the top spot from Botswana, which held the highest African ranking in 2023.
The 2024 Fraser Institute report, released on July 29 by the Canadian think tank, evaluates jurisdictions based on two key indices:
Policy Perception Index (PPI): Gauges investor sentiment on government policy, regulation, and ease of doing business.
Mineral Potential Index: Measures the geological attractiveness and potential for future mineral discoveries.
Morocco made significant gains in the PPI, rising 49.42 points year-over-year. It now ranks third in Africa for policy perception, behind only Namibia and Botswana.
In the mineral potential index, Morocco ranks first in Africa and 14th globally, ahead of Zambia and the DRC.
Top 10 Most Attractive Mining Jurisdictions in Africa (2024):
Morocco (18th globally)
Botswana (20th)
Zambia (28th)
Namibia (30th)
Tanzania (37th)
Ghana (46th)
Senegal (53rd)
Ivory Coast (55th)
Zimbabwe (57th)
Democratic Republic of Congo (DRC) (58th)
In West Africa, Ghana leads the sub-region, ahead of Senegal and Ivory Coast.
While the DRC’s ranking places it last among the African top 10, its entry signals growing recognition of its vast mineral wealth, including cobalt, copper, and coltan—critical to the global energy transition.
The country’s mining sector continues to attract interest despite ongoing concerns around governance and infrastructure.
While the Fraser Institute’s annual report is widely cited in industry circles and regarded as a barometer of mining sector health, it has also faced academic criticism.
Studies published in Nordic Steel and Mining Review and Mineral Economics have raised concerns about the survey’s methodology, citing low response rates and ambiguities in its conceptual framework.
Nevertheless, the report remains a key reference for investors and policymakers assessing mining investment destinations.
The DRC’s debut in the top 10 most attractive African mining jurisdictions marks a turning point in its international perception.
As competition across Africa intensifies, countries like the DRC are positioning themselves to capture greater investment by improving regulatory environments and showcasing mineral potential.
