Somalia Confirms Uranium, Lithium, and Cobalt Deposits to Attract Investment
- Somalia has confirmed the presence of deposits of critical minerals, including uranium, lithium, and cobalt, according to an announcement made by President Hassan Sheikh Mohamud on September 19,...
- President Mohamud revealed the mineral confirmations while delivering opening remarks at the Somalia Development Financing Forum in Mogadishu.
- Beyond underground mineral wealth, Mohamud emphasized that Somalia possesses a diverse range of natural resources spanning fisheries, livestock, and agriculture.
Somalia has confirmed the presence of deposits of critical minerals, including uranium, lithium, and cobalt, according to an announcement made by President Hassan Sheikh Mohamud on September 19, 2026. The confirmation marks a significant step for the federal government as Mogadishu moves to attract international investment and build a more sustainable economic base by tapping into its largely undeveloped natural wealth.
President Announces Critical Mineral Confirmations at Mogadishu Forum
President Mohamud revealed the mineral confirmations while delivering opening remarks at the Somalia Development Financing Forum in Mogadishu. The forum focused heavily on expanding economic growth, increasing government revenue, and drawing foreign investment.
Today, the world is highly interested in minerals, the so-called rare earth minerals,
Mohamud said. Whether it is uranium, lithium, cobalt and many others that the world is currently seeking, it has been confirmed that they exist in Somalia.
While the government confirmed the existence of these elements, the president did not disclose specific details regarding the size, exact geographical locations, or commercial viability of the deposits.
Seeking International Expertise and Investment
Beyond underground mineral wealth, Mohamud emphasized that Somalia possesses a diverse range of natural resources spanning fisheries, livestock, and agriculture. However, the country lacks the necessary technical expertise and capital to develop them independently. The federal administration is actively seeking international cooperation and foreign partnerships to harness these resources effectively. These efforts coincide with broader government initiatives to develop the country’s oil and gas sector, signaling a wider push to monetize national energy and mineral assets.
Improving the Domestic Business Environment
Attracting foreign direct investment requires foundational improvements within the country, according to the Somali presidency. Mohamud stressed that investor confidence ultimately depends on enhanced security, clear regulatory frameworks, and effective state institutions. The federal government is working to establish these necessary measures to support new industries and build out commercial infrastructure. By streamlining regulations, Mogadishu aims to make it easier for both domestic and international businesses to operate as the nation works to strengthen its broader economic systems.