Egypt Pushes African Mining Alliance to Stop Wealth Drain

Egypt is urging African nations to form a mining alliance that would keep more of the continent's mineral wealth at home. Industry Minister Khaled Hashem announced the plan on Saturday, October 17, 2026, at the opening of African Mining Week 2026 in Cape Town. Hashem said African countries should work more closely together to process minerals locally instead of exporting them raw. The alliance would promote local processing, technology transfer, and industrial investment across the continent. The goal is to maximize the value of Africa's mineral resources. Hashem did not provide further details on how the alliance would operate or which countries would join.