Canadian Mining Firms Target Africa Vast Untapped Natura Resources

Africa is the new investment battleground given its vast untapped natural resources. The growing middle class is another aspect that makes the continent an exciting marketplace. For the longest time, China has spearheaded foreign investments in various industries across the continent. After ignoring the continent for many years, Canadian companies are also in the race against time as they seek to tap the untapped resources.

Canada Africa Investments                                           

The continent stands out in part because of its diversified marketplace ideal for a wide range of products. A large population of more than 1.2 billion continues to excite multinationals that are struggling with saturation in the developed world. The continent population size offers an abundant market as the median age is just 19, ideal for a wide array of products.

Canadian companies have mostly restricted their investments to the mining industry, given the continents rich natural resources made up of gold, diamond cobalt, and copper. As of 2017, about 110 Canadian mining companies were carrying out exploration works and doing business across the continent.

In the recent past, Canadian companies have expanded beyond the mining sectors. The telecommunication industry has since continued to attract Canadian investments. Expansion into the telecommunication industry does not come as a surprise as the sector accounts for about 10% of the continents GDP generating as much as $144 billion.

Canadian firms have also set sights on the financial sector. The National Bank of Canada has since increased its stake in a promising Ivorian Financial group to 24%.

Canadian companies are not the only ones spearheading investments in Africa. United Kingdom’s Vodafone has for decade’s generated significant value on its operations across the continent. The UK telecommunication conglomerate is one of the biggest players in the continent telecommunication sector with a stake in Safaricom, which is one of the most valuable and innovative company. Coca-Cola is another company that generates a substantial amount of its revenues across the continent, thanks to its 145 bottling plants and diversified beverage line.

Canada being a leading player in Africa’s mining sector comes with a number of companies worth investing in, to get exposure to the continents rich natural resources.

Canadian Stocks For Africa Exposure

Barrick Gold Corp (TSE: ABX) is by far, one of the biggest gold mining companies in the world. The company is currently undertaking mining and exploration activities in South Africa as well as Tanzania. In the two countries, the company is spearheading gold mining operations as it continues it affirms its position as the world’s biggest gold producer.

First Quantum Minerals Limited (TSE: FM) is another Canadian company making its presence felt in Africa mining sector. The company operates mining properties in Zambia and the Democratic Republic of Congo. It currently operates an open-pit Frontier copper mine as well as the Kolwezi cobalt tailings project in Congo. In Mauritania, it is engaged in copper and gold mining operations.

Kinross Gold Corporation (NYSE: KGC) is another Canadian company investing vast sums of money on mining operations in Africa. The company has already bought one of the largest gold mines in Mauritania. The company generates 22% of its gold from operations in West Africa Mines.

Subscribe to Money News Alerts

This article by Money News National is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Money News National has no position in the stocks mentioned. Thank you for reading.


This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.


Please enter your comment!
Please enter your name here