New mining investment opportunities for Africa

• Published date: 09 May 2022
• Publication title: South African Official News

Mineral Resources and Energy Minister, Gwede Mantashe, says the just transition into a low-carbon future will present new investment opportunities for the African continent.

Mantashe said this when he delivered a welcoming address at the Investing in African Mining Indaba at the Cape Town Convention Centre on Monday.

'The Just Transition to a low-carbon future will require 'green metals', which Africa has in abundance of untapped resources such as lithium, copper, cobalt, nickel, and zinc.

'There is no doubt that the transition will drive demand for these minerals,' he said.

Mantashe said the Democratic Republic of Congo and Zambia demonstrated this fact as they are both among the largest producers of copper and cobalt in the world.

The DRC accounts for about 70% of global cobalt output and half of the world reserves.

'In addition, global targets to reduce greenhouse gas emissions entail transitioning away from pollution-emitting combustion engines to greener alternatives that utilise electric or hydrogen fuel cell technologies.

'The catalytic convertors that vehicle manufacturers use to reduce or neutralise harmful pollutants from exhaust emissions require PGMs [Platinum Group Metals].'

Mantashe said South Africa accounts for the largest percentage of the world's Platinum Group Metal reserves, with Zimbabwe ranked third.

He said this would ensure that both countries play a crucial role in the world's emerging energy transition.

'Minerals of the future that Africa has in abundance hold great potential for the continent.

'These minerals can be used in the development of the hydrogen economy. An exciting and significant story for our future to tell at this Indaba is that, on Friday, 6 May 2022, we unveiled a prototype of the world's largest hydrogen-powered mine haul truck - nuGen - at the Anglo American...