Senegal: A regional mining hub worth 509 billion CFA francs to revive industry

Senegal has just taken a major step in its quest to become a major player in the West African mining sector. An ambitious project to develop a regional mining hub, estimated at 509 billion CFA francs, was officially presented in Dakar on Thursday, March 20, by the Minister of Industry and Trade, Mr. Sérigne Guèye Diop.

A structuring project for the national economy

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This large-scale initiative aims to generate approximately 6,000 direct and indirect jobs, thereby helping to boost the national economy. The regions targeted by this project are Thiès, Kédougou, and Tambacounda, areas rich in mineral resources such as limestone, gold, phosphate, iron, and rare minerals.

According to the authorities, the feasibility study conducted has estimated the financial needs at 509 billion CFA francs. This amount will be financed by a public-private partnership including the state and private investors. The objective is to maximize the exploitation of the country’s mineral resources and strengthen its attractiveness as a key mining hub.

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Three essential components of the project

During the workshop organized in Dakar as part of the 2050 Transformation Agenda, Minister Diop highlighted the three major axes of the project:

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Collaboration platform : promoting synergies between researchers, start-ups, students, research centers, manufacturers and investors to strengthen the technical and human capacities of the sector.

Logistics hub : set up an infrastructure dedicated to the management of mining inputs for efficient exploitation of resources.

Service center: bringing together all the support services needed by the mining industry, thus facilitating its development.

Promoting local processing

Despite the wealth of its deposits, Senegal currently provides only 23% of its mining services locally. The government aims to reverse this trend by developing infrastructure for the local processing of raw materials, particularly through the creation of gold refining and jewelry industries.

Minister Diop called on national investors to actively participate in this major project while urging international partners to respect local standards to support the country’s industrialization. For his part, Mr. Birame Souleye Diop, Minister of Energy, Petroleum, and Mines, confirmed the commitment of all relevant ministries since 2022 to the realization of this project.

Strong support from the private sector

Salimata Kane, spokesperson for some of the project leaders, expressed her impatience for the implementation of this initiative, recalling that her group represents a financial potential of more than 120 billion CFA francs. For his part, Mr. Alpha Sy, executive director of the Investors Club, welcomed the involvement of the national private sector, welcoming this approach, which meets the expectations of local stakeholders.

With this 509 billion FCFA project, Senegal intends to establish itself as a leading mining hub in Africa, combining optimized exploitation of natural resources and sustainable industrial development.

Le Soleil