While mineral exploration investments and discoveries grab the headlines on Africa’s mining prospects for 2024, there is less visible progress being made that promises to strengthen the sector’s future. Africa’s substantial and varied mineral endowment is undisputed, and the year ahead will likely see ongoing progress in exploration and mine development. This will be in both ‘traditional’ metals and in those minerals associated with the global energy transition.
According to S&P Global, the continent is home to the world’s highest grade of mid-sized gold reserves. At the same time, it also hosts more than half the planet’s platinum group metal, manganese, and cobalt reserves – which are vital for certain battery storage technologies.
By the end of 2022, there was a healthy project pipeline of almost 600 projects led by gold and copper-cobalt, but also including coal, diamonds, PGMs, and base metals.
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