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Kenya’s Mining Cabinet Secretary Dan Kazungu will officially open the Kenya Mining Forum in Nairobi […]
Minister of Mineral Resources – Ngoako Ramatlhodi, officially welcomed delegates to the second day of […]
National participation in the development of a country’s resource base is an important goal throughout Africa. To move beyond a symbolic presence in the upstream and play an effective, meaningful role, national oil companies (NOCs) require a clear mandate and sufficient resources, and the support of government.
Things are looking quite positive for the Zambian economy, which has experienced strong growth in recent years, with real GDP growth between 2005 and 2011 more than 6% per year. Moreover copper – the nation’s economic lifeblood – is doing well, and it appears that Zambia’s copper production may once again outstrip that of the DRC, regifting the former with its long-held title of Africa’s number one copper producer.
Zambia has strong potential for broad-based development because of its rich natural resources, said Representative of the German Chancellor for Africa Gunter Nooke last week when he paid a visit to the offices of Copperbelt permanent secretary Reverend Howard Sikwela. “Germany is very interested in Zambia,” said Nooke during the meeting. “I am very much interested in understanding the potential that Zambia has.”
Mining companies are very aware of the significant impact of their operations upon local communities and recognize the need to earn a ‘social license to operate,’ in the form of an unwritten contract with workers, their families and other stakeholders.
Some common minerals have interesting uses that may not be widely known. With this article we bring you our insight into the various ways some of Africa’s most commonly mined minerals are used in everyday life.
Mozambique has experienced growth rates of 7% in recent years, combine that with its political stability and recently discovered vast gas and coal resources, the country is destined to become Africa’s leading player in the power sector.
Plans to build a platinum refinery in Zimbabwe have been boosted after mining companies met the deadline for submission of construction and development proposals set by the Zimbabwean government.
All mining operations in the country are to be reviewed and those not in the best interests of Mali are to be renegotiated, said Mines Minister Boubou Cisse in September of last year. Cisse was speaking a month after President Ibrahim Boubacar Keita came to power and announced his party’s commitment to weeding out corruption.
In recent years there has been a marked upsurge in Burkina Faso’s gold production, fostering hopes that this very poor, landlocked West Africa nation is finally on the road to greater economic prosperity.
Wayne Jansen, global head of mining at KPMG, says that although the mining sector has been in survival mode in recent years, the growth starting to emerge in the global economy gives reason to hope that the situation is set to improve.
Africa is the world’s most mineral-rich continent and consequently has the potential to become a mining mecca. There are large deposits of coal, diamonds, gold, uranium, platinum, iron, rock salt, potash, and more. Mining companies are also attracted to Africa by the relatively low cost of labour and relaxed regulatory frameworks.
Disappointing returns over the previous commodity supercycle have resulted in declining investor confidence in the global mining industry, subsequently reducing capital inflows and negatively impacting on the African mining industry, professional services firm KPMG global head of mining Wayne Jansen tells Mining Weekly.
Africa is a resource-rich economy as is reflected in its trade relationship with China, a region which is not as rich in natural resources. With almost 80% of Africa’s exports to China coming from just 4 natural resource commodities, a large portion of the continent’s GDP growth has been driven by demand from Chinese investors.
The Petroleum Industry Bill of 2012 (PIB) provides a legal, fiscal and regulatory framework for the Nigerian petroleum industry. In July of last year, the PIB was forwarded to the National Assembly for consideration and passage into law.
Nigeria is known for it’s vast natural wealth, with majority of the country’s foreign exchange income and government revenue stemming from oil. With the recent announcement that Africa’s wealthiest man, Aliko Dangote, has signed a deal to finance the building of Africa’s largest oil refinery in Nigeria, all eyes are on the region’s mining sector.
On 25 July 2013, Southern Africa Zambia Chamber of Commerce and Industry (SAZACCI), in collaboration with Africa Exchange, hosted a successful Business Symposium on Zambia’s energy and mining sector, addressing the opportunities for investors. The Business symposium attracted an audience of more than 150 potential investors. It was held at the Wanooka Place Auditorium at KPMG’s Head office in Johannesburg, South Africa.
Libya is exceedingly well endowed with hydrocarbon resources. Singlehandedly, Libya with its proven crude oil reserves of 47.1 billion barrels accounts for nearly 38% of the continent’s proven oil reserves. Libya not only has substantial reserves on an African scale, but also on a global basis. The country has 12 oilfields with reserves of over one billion barrels each and two others with reserves of between 0.5 and one billion barrels.
Cameroon’s oil output is set to rise temporarily before resuming downward trend. The region is estimated to have attracted less than 2% of the Gulf of Guinea’s oil investments over the past decade. Cameroon’s oil output is expected to increase temporarily over the next few years as new wells start with production (following successful drilling results during the past few years) before resuming the downward trend (unless significant new oil wells are discovered).
Back in March 2012, Tullow announced that it had discovered some oil in the Turkana region in Kenya. The commercial viability of the oil is yet to be determined. The Ngamia find is expected to support investment in Kenya over the short-term, and if the oil find does indeed prove to be commercially viable, investment could rise strongly in the medium- to long-term.
In 2012, it was noted that there were 24 African countries with gas reserves. As the exploration for gas reserves on the continent continues, we turn our focus to Nigeria. Nigeria has the largest natural gas reserves on the continent – reserves that it battles to capitalise on due to limited infrastructure. It is interesting to note that all of the current gas reserves were found while searching for oil, according to the petroleum ministry. The government wants to creative incentives for energy companies to explore specifically for gas, and in this regard, the gas will start to ‘decouple’ from oil in terms of investment.