Eight governments have announced country partnerships and compacts to advance responsible metals and minerals development, create jobs, and strengthen local economies, the World Bank reported on October 16.
Argentina, Bolivia, Egypt, India, Kazakhstan, Malawi, Mauritania, and Zambia set out priorities, commitments, and measurable targets to guide reforms, increase investment, and deliver lasting benefits for communities.
The plans identify actions each country can take to advance its metals and minerals sector, including 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 Group plans to increase its metals and minerals support fivefold to $19 billion between FY26 and FY30, combining its own financing with private capital mobilization. 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. Together, these tools will help countries implement reforms, strengthen infrastructure and skills, develop local supply chains, and attract responsible investment.
Kazakhstan’s Compact aims to mobilize up to $20 billion by 2031 through legal reforms, stronger environmental and social standards, digital geological data, and investment in processing and skills. The World Bank Group will support implementation with financing, advice, private capital mobilization, and guarantees, helping turn mineral wealth into economic opportunity.
“Kazakhstan is committed to the responsible and sustainable development of its metals and minerals sector. Our partnership with the World Bank Group supports the advancement of national priorities in mineral processing and the expansion of higher value-added production. We look forward to further strengthening this partnership to enhance the sector’s competitiveness and resilience, support economic diversification, and ensure more effective use of the country’s natural resource potential,” said Yersayin Nagaspayev, Minister of Industry and Construction of Kazakhstan.
