The mining sector in Gabon is emerging as a key player in the country’s economic landscape, gaining significance as Gabon endeavors to reduce its reliance on the oil and gas industry. While currently contributing around 6% to GDP and exports, mining’s importance is on the rise as Gabon strategically shifts towards diversification. With abundant mineral deposits including manganese and iron ore, Gabon holds substantial potential for growth and development within the mining industry. The government’s strategic pivot towards iron ore, particularly focusing on major deposits like Belinga, signifies a pivotal move towards unlocking untapped resources that could have transformative effects on the economy.
The exploration and potential development of Belinga by Fortescue Metals Group under a multi-year agreement signed in 2021 exemplify the significant opportunities that lie within Gabon’s mining sector. This large-scale project, although requiring substantial infrastructure investments, has the capacity to position iron ore as a leading export commodity for Gabon. The successful execution of projects of this magnitude aligns with the government’s broader economic diversification objectives aimed at reducing dependency on oil revenues. As Gabon continues to prioritize the sustainable development of its mineral wealth, particularly focusing on resources like Belinga’s iron ore, the mining industry is poised to play an increasingly pivotal role in driving economic growth and diversification in the years ahead.
While comprehensive data on the overall market size of Gabon’s mining industry remains limited, its growing importance is evident in recent trends. Continued investment and strategic development of Gabon’s mineral resources have the potential to significantly enhance GDP contributions and export earnings. As oil production faces challenges and declines, mining is positioned to emerge as a critical pillar of Gabon’s economy, offering sustainable avenues for growth and economic diversification. The responsible exploitation of resources such as Belinga’s iron ore presents a promising opportunity to propel Gabon towards long-term prosperity and resilience in a changing economic landscape.
