Lorena Stancu, Alexander Stonor, Salma Khaila

MACIG 2024 - Pre-Release

November 17, 2023

The African mining sector is at a critical juncture. The extraordinary, unprecedented demand for the continent’s resources is currently balanced by the global landscape of uncertainty and price volatility. The latter keeps deterring investor appetite in projects sitting in nations with little political stability and affected by infrastructure, energy, and security woes. As these opposing forces continue to unfold, the fate of the African mining sector teeters on the precipice of either a generational opportunity or missed potential.

As the continent has long been the theatre of competition among global powers, one statement has been made abundantly clear by African leaders: the value created by investment in the mining industry must remain within Africa. A great deal of regional incentives – such as offtake agreements for battery and EV products, the establishment of Special Economic Zones, and the development of downstream capabilities – have materialized this ambition throughout the year and are poised to grow in 2024.

Through insights gathered on the ground across North, West, Central, and South Africa, this Pre-Release edition of our MACIG 2024 report provides an analysis of a continent where mining jurisdictions are at different levels of development, but where growth ambitions are unapologetically stated. The final book will encompass a broader geographic span that will cover all regions of Africa and will dive deeper into the main commodities bolstering African nation’s economies.


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