PUBLICATION
MACIG 2023 Pre-Release
In an environment of heightened inflation, African miners and juniors benefit from lower discovery and operating costs, with many expenses incurred in local currencies and most ore bodies found close to surface and amenable to cheaper mining methods. While downward-sloping share prices keep CEOs awake at night across all time zones, companies with African assets have developed a thicker skin for tough market conditions through constantly having to prove project excellence to make up for high jurisdictional risks.
Regardless of what happens on the outside, African players must deal with other issues from within the continent, including security concerns, power blackouts, poor infrastructure, and unstable governance, in a mix specific to each individual country. Handling these challenges has, at best, bulked up the African industry’s resilience against global shocks. But it certainly has not insulated it from them.
In this Pre-Release edition of our MACIG 2023 report, GBR divides the African mining map in four key regions - West, Southern, Central, and East - profiling the key jurisdictions within each geography. The second part of the report studies the trends specific to different commodities, looking primarily at precious metals, base metals, and battery metals; the final book will encompass both a broader territorial span, with a chapter on North Africa, and a wider coverage of commodities, to include coal, uranium, and diamonds.
RECENT PUBLICATIONS
It is said that mining is a patient industry. Current demand projections are not. Demand for minerals deemed ‘critical’ is set to increase almost fourfold by 2030, according to the UN. Demand for nickel, cobalt and lithium is predicted to double, triple and rise ten-fold, respectively, between 2022 and 2050. The world will need to mine more copper between 2018 and 2050 than it has mined throughout history. 2050 is also the deadline to curb emissions before reaching a point of ‘no return.’ The pace of mineral demand and the consequences of not meeting it force the industry to act fast and take more risks. Mining cannot afford to be a patient industry anymore. The scramble for supply drives miners back to geological credentials, and therefore to places like the African Central Copperbelt.
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MACIG
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