Home » Africa’s Untapped Mineral Riches Spotlighted at Mining Indaba 2024

Africa’s Untapped Mineral Riches Spotlighted at Mining Indaba 2024

Conference Focuses on Continent's Role in Global Decarbonization, Critical Mineral Exploration

by Adenike Adeodun

Africa’s vast untapped mineral wealth positions the continent as a key player in the global race to secure critical minerals necessary for decarbonisation. The continent, home to 30% of the world’s mineral reserves, currently accounts for less than 10% of the global mining exploration spend. This disparity, highlighted in the S&P Global World Exploration Trends 2023, indicates a mere 11.6% increase in exploration allocations on the continent, trailing the global average.

With the 2024 Investing in African Mining Indaba conference approaching, the focus sharpens on the need for Africa’s mining industry to find solutions and paths towards becoming a formidable global competitor. Critical minerals are essential for driving a sustainable future for the planet, and Africa’s role in this endeavor cannot be overstated.

Eve Harper, Portfolio Director of Investing in African Mining Indaba, emphasizes the urgency of securing critical minerals for a low-carbon economy. She highlights the conference’s role in facilitating disruptive discussions and bringing together government leaders and investors to support the development of Africa’s critical mineral industries. The conference aims to explore how Africa can leverage its mineral wealth for sustainable development while contributing to global needs.

According to a report by Mining Review, the conference will reintroduce the Explorer’s Showcase, focusing on the exploration and early development of mining companies across Africa. High-level speakers, including industry leaders and CEOs, will address pivotal questions such as the limited exploration investment in Africa and how the continent can meet the growing demand for critical minerals.

Investors and governments from around the globe, including the US, Europe, Saudi Arabia, and India, will be in attendance to support the development of Africa’s critical mineral industries. Discussions will revolve around Africa’s potential to utilize its mineral resources sustainably and beneficially.

The World Bank will also host a session on harnessing Africa’s mineral wealth, emphasizing opportunities for revenue mobilization and structural development. This session will explore the demand for energy transition minerals and their impact on Africa’s economic development and carbon emission reduction.

The 2024 Investing in African Mining Indaba conference presents an invaluable opportunity for Africa to showcase its critical role in the global mining industry and its potential to contribute significantly to a sustainable and decarbonized future.

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