Africa at the heart of the global gold rush: Price surge boosts the continent's mining influence | What's happening?
A wave that is redrawing the map of influence
Written by Omnia Hassan
The world's attention is turning towards Africa With gold prices soaring to record highs, a wave is redrawing the map of influence within the global precious metals market.
With the price of an ounce expected to reach $6,300 by the end of 2026, the situation is changing. The African continent Towards becoming a magnet for international mining investments, as African governments seek to strengthen their control over mineral wealth and achieve greater economic gains.
Historic jump in gold prices
Gold prices have seen a remarkable rise in recent weeks, after exceeding $4,700 an ounce in May 2026, driven by a decline in US Treasury bond yields and a weak dollar, along with continued geopolitical tensions in the Middle East and Eastern Europe.
Analysts believe that the yellow metal continues to strengthen its position as a safe haven amid global economic turmoil, which supports expectations of further increases in the coming period.
Africa strengthens its position in the metals market
African countries have directly benefited from this boom, with central bank reserves on the continent rising to about $530 billion in 2025, compared to $480 billion in the previous year, according to recent economic reports.
Gold now represents about 17% of total African reserves, up from less than 10% a few years ago, while the continent’s gold production exceeded 700 tons during 2025, led by countries such as Ghana, South Africa and Burkina Faso.
International investments and expansion in mining
The record-high prices have led to a race among global mining companies to expand their operations in Africa, despite stricter tax laws and increased government involvement in mining projects.
Major companies operate in several African countries, taking advantage of the continent’s huge reserves, along with expanding the use of modern technology and satellites to improve exploration and production operations.
governments She demands a larger share
In contrast, African governments are seeking to exploit current market power to renegotiate mining contracts, by increasing state quotas and imposing stricter local requirements.
Burkina Faso and Mali stand out as examples of this trend, amid increasing efforts to ensure that local economies benefit from the global gold boom, with expectations that Africa will become a more influential player in the future of the international gold market.
