Eight Governments Launch Mineral Compacts with World Bank Support
Argentina, Bolivia, Egypt, India, Kazakhstan, Malawi, Mauritania and Zambia set reform targets as the World Bank plans to raise mineral support to $19 billion.
The story in focus
Eight governments announced country compacts to develop metals and minerals responsibly, with measurable targets on licensing, infrastructure and skills, as the World Bank Group plans to increase its minerals support fivefold to $19 billion between FY26 and FY30.
- Argentina, Bolivia, Egypt, India, Kazakhstan, Malawi, Mauritania and Zambia announced country partnerships and compacts.
- The plans cover licensing and geological data, environmental oversight, energy and transport infrastructure, and local skills and suppliers.
- The World Bank Group plans to raise its metals and minerals support fivefold to $19 billion over FY26 to FY30.
Shared Reform Agenda
The eight governments announced compacts that set priorities, commitments and measurable targets for reforms, investment and local economic benefits. Common actions include modernizing mineral licensing and geological data, strengthening environmental and social oversight, expanding energy and transport infrastructure, and developing local workers and suppliers.
The World Bank will provide policy advice and public financing, IFC will invest and mobilize private capital, and MIGA will provide guarantees to manage risk. The group plans to increase its metals and minerals support fivefold to $19 billion between FY26 and FY30, combining its own financing with private capital.
National Targets
Egypt aims for a 6% minerals contribution to GDP by 2030 and $9.8 billion in metals and minerals-related exports by 2040. India seeks to mobilize $5 billion in capital through 2031, and Kazakhstan aims to mobilize up to $20 billion by 2031. Zambia targets annual copper production of three million metric tonnes by 2031.
Argentina focuses on copper and lithium and coordination among provinces; Bolivia plans legal and governance changes and critical mineral value chains; Malawi prioritizes governance, infrastructure and transparency; Mauritania frames its compact around low-emission mineral value creation and renewable energy potential.
What are the compacts meant to achieve?
The compacts set measurable targets for reforms, infrastructure, skills and investment so mineral development creates jobs and strengthens local economies while protecting people and the environment, according to the World Bank.
Sources & further reading
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