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Extractive and Energy
- South Africa has adopted a number of measures aimed at boosting the country’s critical mineral industry.
- In January 2023, mining production experienced its twelfth consecutive month-to-month decline, recording a decrease of 1.9 per cent.
- According to the Minister of Mineral Resources and Energy Gwede Mantashe, the industry needs to advance a commitment to working together as stakeholders on the reconstruction and recovery of the mining industry.
South Africa’s vast reserves of critical minerals present a huge opportunity for the country to accelerate economic growth and boost employment creation, while ensuring the energy transition is just and inclusive.
Statistics South Africa recently released its key findings for the fourth quarter of 2022, wherein the real Gross Domestic Product (GDP) decreased by 1.3 per cent. According to the report, the mining and quarrying industry decreased by 3.2 per cent and thus contributed -0.1 per cent to the GDP growth.
Key to
The rapid snowballing of Africa’s rare earths metal production is set to become the world’s alternative source in 2023 and beyond, as global demand surges and world powers seek to wean off their dependence on China amid a new geopolitical multipolar world order. Africa’s vast reserves of rare earth metals have come under the radar of world powers fueled by the devastation emanating from the climate change crisis and calls for a drastic reduction in the growth and operations of extractive industries.
Furthermore, the race to net-zero emissions compounded by increased climate-induced natural disasters has intensified the green energy transition, instigating another scramble for Africa’s resources rare earth metals are at the heart of the race to green energy as well as providing opportunities for massive economic growth by injecting much-needed revenues to finance core socio-economic objectives in the continent.
Rare earth elements (REEs) refers to a group of 17 …
Africa has been hailed as the next frontier in the provision of global oil and natural gas resources, especially now in the wake of the ongoing Russia-Ukraine war.
This crisis has not only altered the global energy landscape, but also instigated an inflation in gas prices, given the former’s position in the hierarchy of major global producers. As sanctions continue to soar, Europe has embarked on a quest to find contingency energy supplies, as it seeks to minimize its dependency on Russia; which has already cut off gas supplies to countries like Finland, Poland and Bulgaria, over energy payment disputes.
Consequently, Africa’s gas resources have gained a newly found prominence, pertinently by the European Union (EU); owing to the continent’s rich endowment of oil and deep gas reserves. The mounting global demand for gas, has been pushing international energy companies to reconsider African projects. The numerous ongoing and upcoming oil …
The operations of Tianyu Mining Zambia Limited has been brought to a halt by Chilanga District Task Force (DTF) who have agreed to shut down their operations for what the task force says the mining company failed to comply with set regulations by the Zambia Environmental Management Agency (ZEMA) on air pollution.
Richard Ndazye the DTF Chairperson castigated the management of Tianyu Mining Company for the openly ignoring to observe regulations set by ZEMA saying that such behaviors of constantly polluting the air with dust at the expense of locals will not be tolerated.
He said the company was supposed to engage the residents at Arduin farms and surrounding areas on the best possible way of ensuring that the dust arising from heavy duty vehicles is controlled.
“If you as a company do nothing on the air pollution happening in the area the cost of living for the people here …
The Energy sector has received substantial capital commitments. In the course of the continent’s growth, the sector has seen lucrative returns and enormous risks and losses. The energy sector’s main upside has been the increased economic growth and development witnessed on the continent.
The story has not been an absolute success, however, with some huge losses incurred. The government mainly monopolizes the energy sector in Africa as it provides a critical service to the economy. Failure of the sector could result in a catastrophic collapse of the economy across all fronts.
The impact of mergers in the Energy Sector
Operational cost-efficiency
South Africa has recently welcomed a major energy merger that is effective 1 April 2021. PetroSA, iGas, and Strategic Fuel Fund are set to become one entity called the South African National Petroleum Company. A deal has the potential to produce high-value returns for investors and substantial developments in …
According to the Global E-Waste Monitor Report, in 2019 the world generated 53.6 million metric tonnes (Mt) of electronic waste (e-waste), and only 17.4 per cent was recycled through appropriate channels. Africa in particular lacks formal governance to support e-waste management.
Households in Africa generated 2.9 Mt of e-waste in 2019, of which only 0.9 per cent was reported to be collected and recycled by the formal sector. Discarded equipment such as phones, laptops, fridges, sensors and televisions contain substances that pose serious environmental and public health risks, particularly if treated inadequately.…
Tanzania’s President John Magufuli has ordered the country’s Ministry of Minerals to allocate land to iron and other metal smelters; and to lure investors quickly, the president said the land allocation may even be done at ‘no direct charge’ to the investor.
The President issued the order at a swearing in ceremony for the ministry’s new deputy minister, on Friday 11.12.20. President Magufuli was emphatic over the sector’s potential to contribute to national development. He specifically named a few areas that have already been identified to have ‘millions of tonnes of iron deposits.
“We have so much iron deposit, if the smelters ate willing to melt stolen rails they are willing to smelt iron ores,” he said.
“Give investors areas to mine iron and other metals and minerals,” he went on to say and even pointed out that “…even right here at the capital, we have iron deposits.”
With that, …
Tanzania’s largest power source is natural gas.…
The year started out as very promising, Nigeria’s crude oil and gas export sales revenue hit a record USD434.85 million in January. That was apparently the best the sector would do this year. It is estimated that the country’s oil revenue is likely to decline by 80 percent this year. In fact oil export volume is projected to fall to 1.3 million barrels per day.
For a country where oil represents 90 percent of the country’s exports, 30 percent of bank credits and 50 percent of fiscal revenues, an 80 percent fall (USD17 billion) spells doom not only for the sector but the economy as a whole.
The prediction is made by the country’s high profile and member of the Economic Advisory Council, Mr. Bismarck Rewane in a report titled: “Making Hay While the Sun Has Set.”
“The federal government is struggling with the reduction and elimination of subsidies without …
