mining sector Archives - AfricaBusiness.com

2Feb

By Africa BusinessNo Comments

The impact of the African Continental Free Trade Area on the continent’s mining sector

By Virusha Subban, Partner specialising in Customs and Trade, and Head of Tax, Baker McKenzie, Johannesburg Africa is the world's top producer of numerous critical mineral commodities. With the rapid increase in the rate of global energy transition, the continent's mining industry has a role to play in sourcing and supplying these critical minerals for use in clean energy projects, manufacturing capacity, electric vehicles and other sustainable solutions. The continent is a large supplier of bauxite, chromium, cobalt, copper, diamond, gold, iron ore, platinum group metals, lithium, rare earth metals and zinc, for example, with most of them being exported as ores, concentrates or metals. Exporting these critical minerals as raw materials, however, reduces Africa's trading position to one ...

How does the mining sector impact the South African economy?

Mining has had a larger impact on shaping the South African economy than any other sector. It transformed a predominantly rural economy into an industrial one. It resulted in the development of Kimberley, Johannesburg, and other cities. It attracted massive amounts of foreign cash. It required the creation of stock exchanges, colleges, and other contemporary institutions. Exploiting tiny veins of gold up to four kilometers (almost two and a half miles) below the earth's surface necessitated the development of extremely high levels of competence. It aided in the formation of the nation's job markets. It attracted a large number of South Africans out of discrete segments and into paid work. In addition to that, the mining industry attracted a big amount of laborers from broader countries, wh...

Hybrid solutions are the most effective way to deliver reliable clean power to remote off-grid mining operations in Africa

Op-ed by Tarik Sfendla, Market Development Manager, Africa chez Wärtsilä Energy Business The energy markets are undergoing a massive transformation as governments around the world transition away from fossil fuels towards the integration of renewable energy. This trend is clearly visible in the mining industry as demonstrated by recent power projects in South America and in Australia. According to Bloomberg New Energy Finance, in 2018, mines purchased 1 GW of renewable energy generation assets; this amount tripled to reach approximately 3.5 GW in 2019, 90% of which consist of hybrid solutions. Electricity demand for the mining industry is expected to increase significantly in the coming years as increased mine depth, harder rock and greater water desalination needs lead to higher energy in...