The fact that mining will be vital in a low-carbon future, was confirmed by the topics prioritised at the recent Investing in African Mining Indaba’s virtual conference last week.
“The message was clear: mining is part of the solution as the planet addresses climate change through a range of renewable technologies,” said Andrew van Zyl, partner and principal consultant at SRK Consulting.
The World Bank estimates, for instance, that production of minerals like graphite, lithium and cobalt could grow by 500% in the next three decades to meet demand for clean energy technologies. A single 3MW wind turbine requires 4,7 tonnes of copper, while solar photo-voltaic cells include glass, aluminium, silicon and even silver. The storage of this energy in batteries will require increasing volumes of minerals like lithium, cobalt, nickel, and manganese.
“Speakers at the Indaba highlighted the sector’s readiness not only to deliver, but to continue reducing its environmental and climate change footprint,” said Van Zyl. The sector is a significant energy consumer, accounting for about 11% of global energy use.
“As mines progress their environmental, social and governance (ESG) strategies, the industry needs to continue moving toward climate-smart mining to cut its carbon and material footprints,” he said.
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