Gabon bets big on mining to transform its economy
Facing a steep decline in oil revenues, Gabon is charting a new course by prioritizing mineral extraction. In recent months, the government has unveiled financial commitments totaling several hundred million dollars to accelerate mining projects across the nation. With active exploration campaigns underway in multiple provinces, the country is positioning itself to join the ranks of the world’s top mineral producers by 2030.
Reporting from Libreville
Seven months into his tenure as Gabon’s Minister of Mines, Sosthène Nguema Nguema is optimistic about the mining sector’s potential to become the country’s new economic engine. Traditionally reliant on oil revenues, Gabon is now poised to diversify its economy through mineral extraction. «We have identified and planned the opening of several mines between 2026 and 2030. Within this timeframe, about eight mines are expected to become operational. This includes the Milingui iron mine, the potash mine, the Etéké gold mine, the Baniaka iron mine, the Mébaga iron mine, and the M’Bilan iron mine», the minister explains.
These new mining ventures are expected to generate thousands of jobs while driving double-digit growth in the sector. «Currently, the sector contributes around 6% to the national economy. Our goal is to increase this figure significantly in the coming months and years, aiming to surpass 15-20%», Sosthène Nguema Nguema adds.
Economic prospects and challenges ahead
While the outlook is promising, economist Orphée Mouelé, an alum of Omar Bongo University, highlights critical prerequisites for success. «Technically, several essential factors must align: the development of robust transport infrastructure, including roads, railways, ports, and bridges, to efficiently transport minerals. Equally vital is the enhancement of energy production capacities, as energy is fundamental to mining operations», he emphasizes.
The NGO Éthique et bonne gouvernance applauds the economic potential of the mining sector but stresses the importance of tangible social impact. Dr. Edmiaune Zouga, its president, says: «The most critical aspect for us is the social impact. These projects must uplift the average citizen. The Gabonese people must feel the economic benefits in their daily lives». Alongside its push for large-scale mineral extraction, the government is also promoting a new policy to locally process raw materials, aiming to create more wealth and jobs within the country.
