The government of Equatorial Guinea has decided to broaden its subsurface exploration program by engaging a foreign company to obtain more accurate data on the country's mineral resources. The announcement follows a meeting in Ciudad de la Paz chaired by Vice‑President Teodoro Nguema Obiang Mangue, during which a working group approved contracting a specialist firm in airborne geophysical surveys.
Officials and independent experts say the move is intended to kick‑start more intensive mining activity on the mainland and to diversify Equatorial Guinea's ties with potential international investors in the mining sector. Until now the country's economy has depended largely on offshore oil and gas production around Bioko island, while on the continental Rio Muni region there are documented occurrences of gold, diamonds, nickel and titanium that have not been developed at scale.
In April, Alexey Desyatkin, head of Zarubezhgeology, met with the vice‑president in Malabo to discuss plans for mapping the continental zone that would help the government better assess mineral reserves. Desyatkin also presented a package of investment proposals for the energy sector to be reviewed with the relevant ministries.
Russian state company Rosgeo signed a memorandum of intent with Equatorial Guinea's Ministry of Mines and Hydrocarbons at the first Russia‑Africa forum in October 2019. In 2020 Zarubezhgeology and Yuzhmorgeologia, subsidiaries of Rosgeo, completed an initial reconnaissance phase of seismic surveys in transit zones and carried out state mapping in the Rio Muni area under those contracts.
According to statements by Delegate Minister for Hydrocarbons and Mining Development Domingo Mba Esono, geological cooperation with Soviet oil and mining firms in the 1970s produced significant findings, including samples of large alluvial gold deposits previously unrecorded in the country, as well as bauxite and other minerals of interest.
Potential benefits of the current initiative include more precise resource estimates, increased foreign direct investment, and diversification of the national economy. Observers stress, however, that attracting sustainable investment will require transparent licensing, environmental and social safeguards, and programs to build local technical capacity so that benefits reach Equatorial Guinea's population.
