It is well documented that the unequivocal need for critical minerals globally has shone a spotlight on the resource-rich landscape of Africa. In recent times, we have seen particularly heightened investment focus from the West, as it wakes up to the need for proactivity in securing supply of minerals needed to advance energy transition, AI and defence ambitions, to name but a few.

This was clearly evident at this year’s Investing in African Mining Indaba, a global gathering of stakeholders including governments, investors and mining companies, all with a focus on the continent and unlocking its vast wealth of mineral resources.

Aside from all-round elation that mining is indeed ‘back’, there was a particular buzz around the heightened activity from state actors, including the many critical mineral arms from the U.S. and EU in particular, which are driving greater deployment of long-term, conviction-led capital.

It was clear from discussions that it is the responsibility of both policy makers and project developers to incite and then encourage a continuation of this inflow of investment, and capitalise on the opportunity presented by the need for critical minerals.

For policy makers, ensuring robust regulation that facilitates and expedites the different phases in a mining life cycle is of upmost importance. Policies should, naturally, champion transparency, with consideration for all stakeholders and ongoing engagement with these different groups. These policies need to remain consistent – evolving, of course – and maintain certain, irremovable guarantees, that stand strong even in the face of changes in the political landscape.

There are a number of states that do this exceptionally well, and continue to attract new project developers and foreign investment as a result. But what they also do well is promote just how attractive they are.

This is also where the project developer comes in: yes, it is important to promote the NPV of your project, and how you will operate on the lowest quartile on the cash curve. But it is just as important – if not more so – to assure investors of the sound, stable environment to which their investment is headed. It is the responsibility of project developers to amplify the impact of what states have already put in place, and inspire confidence amongst investors on behalf of both the project and the jurisdiction in which it lies.

Policy makers will invariably struggle to make the case for investment on their own. Project developers also cannot convince investors of transparency, stability and sound regulation if there is not sufficient evidence to support it.

There is evidently a common goal (amongst many others) between the two, and thus a strong argument for greater alignment in promoting a jurisdiction as an attractive investment destination. In practice, this means building relationships, strengthening dialogue, and ultimately working together in public and private to achieve a robust reputation of transparency and good governance. Both stand to gain immensely if they succeed, and Indaba is an outstanding example of where this can begin to be executed.

– Josephine Clerkin, consultant

– Read more about Tavistock’s natural resources team

Charles Vivian hosts a panel at the 2026 Investing in African Mining Indaba.