Equatorial Guinea is positioning itself as a new frontier for mining investment, leveraging decades of experience in the oil and gas industry to attract global partners as it moves to diversify its economy and unlock untapped mineral wealth. "We are not new to working with international investors," Minister of Mines and Hydrocarbons Antonio Oburu Ondo said Wednesday at the Egypt Mining Forum in Cairo. "Now we are opening that same door to the mining sector." Traditionally an oil and gas powerhouse—with major players like ExxonMobil, Chevron and ConocoPhillips operating in the country—Equatorial Guinea is now turning its attention to mining. National energy firms such as GEPetrol, Sonagas, Kosmos and Trident have laid the groundwork for a stable investment climate, which the government hopes to replicate for mining. The country has identified promising deposits of copper, cobalt, nickel, manganese, niobium, tantalum and rare earth elements. However, outdated data remains a key hurdle. "... we acknowledge challenges—especially with data availability. As discussed in several panels yesterday, reliable data is critical for developing a successful mining sector. Our geological data dates back to 1974," Oburu said. The country is currently negotiating with a UK-based firm to carry out a new airborne geophysical survey. To address investor concerns, Equatorial Guinea is overhauling its mining code and fiscal framework. International consultants are revising legislation to align with global standards, ensuring legal clarity, transparent licensing, and protections including international arbitration, fiscal stability, and capital repatriation guarantees. Tax reforms already in place include a cut in corporate tax from 35 per cent to 25 per cent, dividend tax from 25 per cent to 10 per cent, and a reduction in withholding tax for residents from 6.25 per cent to 3 per cent. A Special Economic Zone for mining and a digital one-stop shop for licensing are also in development. Oburu emphasised the country's readiness, citing advanced infrastructure—roads, ports, and airports—developed through oil revenues. "We are resilient, and we are focused on unlocking the potential of our mineral resources." he said. "We are committed to improving the lives of our people through smart, sustainable development." Equatorial Guinea, the minister noted, "is ready and eager to engage. We are prepared to work with companies and partner countries, particularly those with established experience in the mining sector." The minister also addressed frequent confusion about his nation's identity: "we are often confused with Guinea (a French-speaking country), Guinea-Bissau (a Portuguese-speaking country), and Papua New Guinea (an English-speaking country in the Pacific)." Attribution: Amwal Al Ghad English Reporting: Aya Anwar Writing: Y.Yasser Subediting: Y.Yasser
