Somalia has confirmed the presence of uranium, lithium and cobalt, President Hassan Sheikh Mohamud said, as the government seeks to attract investment and develop the country's natural resources.
MOGADISHU, Somalia (Somali Report) — Somalia has confirmed the presence of several minerals including uranium, lithium and cobalt, President Hassan Sheikh Mohamud said, highlighting the country's natural resources as the government seeks to attract investment and diversify its economy.
Hassan made the remarks while opening the Somalia Development Finance Forum, which focused on economic growth, investment, and strengthening domestic sources of revenue.
“Today, the world is very interested in minerals, especially what are known as rare minerals,” Hassan said. “Whether it is uranium, lithium, cobalt and many others that the world is now seeking, it has been confirmed that they exist in Somalia.”
The president did not provide details on where the minerals had been identified or disclose the scale or estimated value of the deposits.
Somalia has long been believed to possess significant untapped mineral resources, but the sector has remained largely undeveloped due to insecurity, limited infrastructure and a lack of large-scale investment.
Hassan said the country also possessed a range of other natural resources, including fisheries, livestock and agricultural land, but argued that expertise, investment and international cooperation were needed to develop them.
The government is seeking to create conditions that would encourage both Somali and international investors to enter or return to the country, he said, as part of efforts to expand economic opportunities.
Hassan said investor confidence would depend on stability, clear laws and institutions capable of operating efficiently. He linked those conditions to the development of industries, infrastructure and systems designed to facilitate business and trade.
Somali Report · Newsletter
Your morning briefing on Somalia's biggest stories — politics, security, business, and the people shaping the region's future.
The Development Finance Forum brought together government officials and other stakeholders to discuss plans aimed at expanding economic growth, increasing investment and building foundations for sustainable development.
The mineral announcement comes as Somalia is also pursuing plans to develop its oil and gas sector. The government has sought to attract international energy companies as it moves toward the exploration and potential production of hydrocarbons.
Somalia's natural resources have attracted growing attention in recent years, although turning potential deposits into commercial production would require substantial investment, geological assessment, infrastructure and regulatory frameworks.
The country has also been working to strengthen its financial institutions and increase domestic revenue as it seeks to reduce dependence on external assistance.
Hassan's comments could add to investor interest in Somalia's mining sector, particularly at a time when demand for minerals used in energy, technology and industrial production is increasing globally.
However, the president did not give a timeline for the development of the newly confirmed mineral resources, nor did he identify companies or international partners involved in their assessment.
Somalia's ability to exploit the deposits will ultimately depend on further geological studies, investment and the establishment of clear rules governing exploration, extraction and the distribution of revenues from natural resources.
About the Author
Ahmed Omar is a senior journalist for Somali Report, based in Mogadishu. He has two decades of experience reporting on Somalia for international and local media. He covers politics, security, governance, business, trade, economic developments and regional affairs.
US gives UN extra year to support African force in Somalia
