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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 …
Across East Africa, Tanzania is strategically positioning itself as the next Sub-Saharan powerhouse, with the potential to draw billions, revitalize its economy and strive to industrialize Tanzania.
The third Tanzania Oil and Gas Congress, went a step further to explore crucial aspects within the extractives industry, such as sectorial collaboration for successful oil and gas projects, updates on Tanzania’s projects and global market overviews and short-term demand and supply in Tanzania.
The congress brought forth strategic players from top-notch oil and gas industry spheres, who have been leveling the playing field for the past two days.
It goes without saying: Tanzania oil and gas landscape, is yet to see vital potential investments and operational improvement on domestic consumption and exportation of natural gas as well as oil exploration.
In that context, Tanzania stands to draw potential investors and elongate standing development strategies, not only via the extractive industry but mirroring …
Zimbabwe expressed concern over the United States’ ban placed on its diamonds to prevent it from being imported over concerns of forced labour.
The US Customs and Border Protection banned targeted products from China, Zimbabwe and the Democratic Republic of Congo (DRC). This has risen suspicion of the blockade being an extension of Washington DC’s trade war with China.
The US said that they issued a Withhold Release Order of the artisanal rough-cut diamonds from Zimbabwe’s Marange diamond field due to evidence of forced labour and the US law prohibits importation of goods made with forced labour.
The Secretary of Information, Publicity and Broadcasting Services Mr. Nick Mangwana responded, “There is virtually nothing like this in our diamond industry. Zimbabwe is replete with a highly qualified labour force which is neither forced nor compelled at any point along the mining and processing value chain.”
He pointed out that Zimbabwe …
The 3rd Oil and Gas Congress took off on 2nd October, in commercial city Dar es Salaam, drawing in vital players from the Energy arena. The 3rd congress, saw a huge number of investors and technocrats leave with key and crucial messages and new prospects in the industry, including possible missions to embark on oil-discoveries and more gas reserves in Tanzania.
International delegates from top-notch companies in the world: Total, Shell, Equinor, Dodsal and representatives from neighboring countries working with Tanzania, in strategic oil and gas projects, Kenya, Zambia and Uganda, witnessed how Tanzania, is positioning its self to be the next powerhouse in Africa.
During the congress, Tanzania’s Minister of Energy, Hon. Dr. Medard Kalemeni, revealed rather vital information, that could transform the oil and gas landscape in Tanzania.
“Tanzania has not discovered oil yet, but it is developing strategies to embark on discovering oil” the Minister added.…
Over the past decade, Tanzania’s oil and gas industry has demonstrated astonishing milestones in energy generation and consumption, demonstrating that an industrialized Tanzania might be a feasible ambition for East Africa’s fastest-growing economy.
Since Tanzania discovered natural gas in 1974, remarkable developments have been achieved. These include saving over $ 10 billion USD, used in purchasing heavy fuel oil (HFO) and other fossil fuels (diesel and petrol in particular) for industrial production and power generation.
According to the Ministry of Energy, until May 2019, the Tanzania Petroleum Development Corporation (TPDC) had collected over $ 210 million USD (from gas sales and exploration), exceeding the intended target of over $ 171 million for the fiscal year 2018/ 2019.
Currently the energy arena in Tanzania seems to be working positively. The upcoming Oil and Gas Congress (commencing on 2nd and 3rd of October), anticipates profitable sectorial merits, necessary to expanding …
Tanzania plans to streamline its oil and gas industry to the world, via a robust and tailor-made, two-day congress, commencing on 2nd and 3rd of October 2019.
For a third time, Tanzania will host the Oil and Gas Congress and attract delegates from over 67 nations across the globe, including sector’s crucial players: Oman, UAE, Canada, Brazil, UK, Norway, and India.
Organized by Ocean Business Partners and CWC, via a partnership with other essential government parastatals and private sector in Tanzania, the 3rd Oil and Gas Congress stands to be an event not to be missed.
Tanzania—has been ascending in the extractives sector’s ladder quite steadily over the past decade, levitating commercial aspects in natural gas production and enhancing national content take-up across the country by building capacity with local suppliers, technocrats and consumers.
In that context, the anticipated and eye-catching congress is yet another concrete and calculated …
Tanzania’s Central bank, the Bank of Tanzania (BoT) has pledged 500m/- in soft loans to the country’s artisanal gold miners.
The loans will be extended via the 13-year-old artisanal miners’ empowerment scheme dubbed the Small and Medium Enterprises Credit Guarantee Scheme (SME-CGS).
Under the scheme, the artisanal miners are guaranteed working capital from commercial banks in their respective areas of operation. The way it works is that the central bank guarantees the commercial bank up to 50% of the loan amount that the miner applies for. On the other hand, the recipient is then responsible to cover the remaining 50%.
This scheme was passed into law by the Act of 2006 which stipulates that when the loan is passed then the responsible financial institutions pays one per cent of the guaranteed loans to the central banks.
To secure these soft loans requires a business plan complete with financial plans detailing …
