Fulfilling the mineral resource demand
Unlocking the value of Africa’s mineral resources 2022 and beyond (the clean energy era)
INTERESTING ARCHITECTURE TRENDS
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WHY ARE THESE TRENDS COMING BACK AGAIN?
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WHAT TRENDS DO WE EXPECT TO START GROWING IN THE COMING FUTURE?
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WHY IS IMPORTANT TO STAY UP TO DATE WITH THE ARCHITECTURE TRENDS?
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WHAT IS YOUR NEW FAVORITE ARCHITECTURE TREND?
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The dilemma for Africa has been accessing capital. the lending requirements are often too stringent and the perceived high-risk profile of many African countries means most of the mining projects on the continents end up not being developed and if they do get developed, they are 100 percent in the hands of big foreign companies that can raise the high capital associated with the development of mining project, and often with collateral to give comfort to investors or lenders who are often westerners. What this means is that Africans end up not being able to participate at an ownership level.
The past two days, I have had conversations about small-scale/ artisanal mining in Africa and suddenly I had a lightbulb moment. The world is whining about the high demand for minerals especially battery minerals to unlock a cleaner energy option for the world. However, the world remains in limbo when it comes to where all the required capital will come from.
Africa’s small-scale mining industry might be the answer to filling the required minerals gap. it is high risk but cheaper and just requires the organization to ensure the required tonnage is delivered periodically. Services such as exploration work and mineral resource definition can also be streamlined and costs shared between various operators.
The current world’s commodity demand won’t be solved by big companies, or big project strategies, why do I say this? these projects take time to do proper studies that will then qualify these companies to source the required funding. meanwhile, at a small scale level, the process can be sped up by a simplified process and fewer funding requirements. It will be the small-scale miners that will solve the commodity demand. However, they will require support in ensuring adherence to safe working culture and looking after the environment, etc.
Having said that, there also lies a need for a new type of broker to facilitate the transfer of minerals from mine sites to the end users without having the stringent and demanding processes that are usually required in bigger corporations. This process would need a new type of broker as opposed to traditional commodity traders.
Everyone in the value chain must understand the importance of working together and the need to empower each other as Africans to ensure that the pie is spread accordingly and benefits more people for economic empowerment and emancipation of Africans from poverty. This will be a joint effort, a collaboration between small-scale miners, governments, communities, brokers, and end users of the minerals. This will need to be the starting point and over time once sufficient cash flow is generated, these small-scale mining companies will evolve into medium-scale miners and eventually to having sufficient funds to consolidate into bigger mining companies. The strategy of focusing on small-scale mining is to accommodate the lack of capital for bigger projects and mitigate the stringent borrowing terms of western funders.
Let this be an African story, driven by young Africans to unlock the value of Africa’s mineral resources and emancipate Africans from poverty.
