The countries have untapped wealth and steady rise in mineral revenues, Xinhua quoted the Mining in Africa Country Investment Guide 2014 as saying in its report.
The report was produced as a tool guide for the annual African Mining Conference that kicked off on Tuesday in Cape Town, South Africa.
It was compiled by Global Business Reports, a Singapore-based research body.
Southern Africa provides the highest number of mining countries including Botswana, Madagascar, Malawi, Mozambique, Namibia, South Africa, Zambia and Zimbabwe.
West Africa is represented by seven countries, including Burkina Faso, Cote d'Ivoire, Ghana, Guinea, Niger, Nigeria and Senegal. The Democratic Republic of Congo is the only Central African country mentioned among the top 20.
North Africa features none of the top 20 due to its focus on oil exploration and production, which, according to the report, has made the mining sector in the region overlooked.
The report scrutinises all the five continental regions encompassing 53 countries and mentions the top 20 mining destinations, but it avoids mentioning specific positions, saying that "it is not intended as a formal ranking".
While Rwanda is new on the African mining playing field, it remains the world's fourth largest producer of tantalum and shows similar potential for several other minerals, the report said.
"Where Rwanda's mining sector lacks volume and capacity, the country has made significant strides in implementing regulatory reform in an effort to woo international investors," it added.