• Côte d’Ivoire retakes West Africa’s top mining rank
• Investment score rises to 60.92, survey says
• Ranks fifth in Africa, 47th globally

Côte d’Ivoire reclaimed its position as West Africa’s most attractive mining jurisdiction in 2025 after losing the top spot to Ghana in 2024, according to the Fraser Institute’s annual survey published on Thursday, Feb. 26.

The country posted an investment attractiveness score of 60.92 out of 100, up from 55.70 in 2023, the last year it led the sub-region.

The survey, based on questionnaires sent to mining executives, covers 68 jurisdictions in 2025. Each is assessed using two main indicators: the Policy Perception Index (PPI) and mineral potential. Côte d’Ivoire improved on both measures compared with 2024, lifting its overall score.

Within West Africa, Ghana and Guinea rank second and third with scores of 55.21 and 52.16, respectively. Mali follows with 46.58, while Burkina Faso trails at 35.29.

The result reflects a broader trend. In recent years, Côte d’Ivoire has been repeatedly cited for its mining-friendly business environment, particularly in the gold sector.

At the 2025 Africa Down Under conference, Turaco Gold Managing Director Justin Tremain said there was “no better place in the world” to develop a gold mine than Côte d’Ivoire. Adam Oehlman, head of African Gold, echoed that view, pointing to the speed of discoveries in the country. The two companies are developing the Afema and Didievi gold projects, respectively.

Continental leadership still out of reach

Despite its regional lead, Côte d’Ivoire does not top the African ranking. It ranks fifth on the continent and 47th globally. As in previous editions, Botswana and Morocco lead Africa in 2025, followed by Zambia and Tanzania.

Botswana also re-entered the global top 10, ranking seventh after dropping out in 2024. Overall, Africa’s performance remains uneven, with four jurisdictions appearing among the bottom 10 worldwide.

Globally, the U.S. state of Nevada ranked as the most attractive mining jurisdiction.

Although the Fraser Institute’s survey is widely regarded as a benchmark in the mining sector, its findings should be treated with caution. The results reflect the perceptions of a limited sample of industry participants and tend to favor investor-friendly regulatory frameworks, which may not capture the full policy or social context of each jurisdiction.

Aurel Sèdjro Houenou

Africa’s Most Attractive Mining Jurisdictions in 2025:

1. Botswana
2. Morocco
3. Zambia
4. Tanzania
5. Côte d’Ivoire
6. Democratic Republic of Congo
7. Namibia
8. Ghana
9. Angola
10. South Africa
11. Guinea
12. Mali
13. Egypt
14. Burkina Faso