It is probably an understatement to say the world has become an unpredictable place over the past decade, but there are exciting opportunities to build more resilience in communities around Africa – with mining as a key driving force.
From climate change impacts that have exacerbated floods and droughts, to a global pandemic and geopolitical instability, there has been a lot for mines to deal with recently. Then there are the usual commodity cycles to navigate, which have become even more volatile with rapid technological changes related to the energy transition, further impacting commodity prices.
Driven by global decarbonisation efforts, there is plenty of uncertainty about the future of vehicles driven by internal combustion engines – and hence about the demand for metals needed for catalytic converters. Even within fast-evolving battery technology, there is little agreement about exactly which concepts will prevail to lead the market. This means continued uncertainty about which metals and minerals will be in most demand.
Factors like these make for unstable ground on which to plan and execute new mining projects, on which Africa is still partly reliant for its growth prospects. It is seldom disputed that mining is a powerful pioneer sector that can kick-start much needed economic diversification.
Just as mining has been buffeted by these forces, so too, communities around the continent have also been affected. These unsettled conditions confirm that a key goal for all stakeholders in Africa’s development is to foster community resilience, equipping vulnerable societies with a measure of protection or future-proofing against tomorrow’s unexpected challenges.
For all the recent challenges, it is heartening to witness how mining has endured; it has in fact been given more tools with which to more effectively create positive social and economic benefits. There are two fields focused on in this regard: energy and water.
Read the full article on African Mining.
