Africa

Over the past quarter century, the population of West African nation Senegal has more than doubled from slightly under 9 million to just under 18 million. While this population growth has several positive side effects, including one of the world’s youngest workforces, it creates challenges on several levels. And with doubling the population, all things being equal, doubles the aggregate demand for vital services.

Sub-Saharan Africa has long been touted as one of the future hubs of renewable energy but progress has been uneven in most countries in the region. One of the notable exceptions to this has been Kenya, which already produces 92% of its total power from renewable energy capacity. This places it way ahead of schedule for its goal of being 100% reliant on renewable energy by 2030.

World demand for cobalt, a by-product of copper and nickel mining, continues to soar. It is an essential building block of infrastructure, energy and mobility solutions that help advance everyday life. It is a crucial component of rechargeable batteries that power everything from electric vehicles and laptops to smartphones, cameras, and other decarbonization technologies.

In 2020, the Tanzanian Government and Barrick Gold Corporation launched a joint venture – Twiga Minerals Corporation – intending to revitalize two gold mines at North Mara and Bulyanhulu and make the 50:50 enterprise a model for similar operations in other regions.

Sandstorm Gold Royalties has an operational framework that is built on the concept of ‘gold streaming’ and royalties. Instead of directly operating mines and taking on the corresponding operational risks, Sandstorm provides upfront financing to gold mining companies. In exchange, it secures the rights to purchase a portion of the produced gold at a significantly reduced rate or receives a percentage of the revenues generated by the mine.

In an electrifying moment that reverberated through Zambia's mining landscape, the commissioning of the nickel concentrator at First Quantum Minerals' Enterprise nickel mine in Kalumbila, North-Western Province, has set the stage for a thrilling new chapter in the country's mining history. At the helm of this seismic shift, Mines and Minerals Development Minister Hon. Paul Kabuswe proclaimed the dawn of a radiant future for Zambia's mineral sector diversification.

Through several years of political unrest, gold mining has proven to be an area that the West African country Burkina Faso can depend on. From less than 10 billion West African CFA Francs at the beginning of this century, revenues from oil and mineral extraction have grown to over 300 billion in the past two years. And among the country’s growing portfolio of world-class mines, the Essakane Gold Mine, Burkina Faso’s largest, stands alone.

In its five-year outlook for Cote d’Ivoire, the International Monetary Fund projects growth of over six percent in each of the years to the end of 2028. If this growth comes to pass - and there is no guarantee that it will - Cote d’Ivoire’s economy will have grown by over a third in a short period of time. One of the drivers for this growth is a government refocuses on the country’s extensive mines, the latest of which to come into operation is the Séguéla gold project.

There is arguably no greater key to Africa’s fulfilling its potential than infrastructure. Estimates vary, but the infrastructure gap in South Africa between 2022 and 2030 has been estimated at close to $300 billion. Investments of this size would be considered large in any country, but at least South Africa has an example it can point to when making a case for the effectiveness of large investments in infrastructure: Gautrain Rapid Rail Link (Guatrain).

It is ten years since Business Excellence first visited Ambatovy Joint Venture Project in Madagascar. At that time, the mine was still at the preparatory phase, albeit with serious ambition. With total funding for the project crossing the $5.5 billion threshold, it was, and remains to this day, the largest investment in Madagascar’s history, and has contributed nearly a quarter of the country’s tax revenues since it become operational.