MACIG 2022 corroborates research from three African mining regions to provide a long-term understanding of the market dynamics, on-the-ground environment, and the activities of the main mining industry players in Africa’s mining sector. In over 200 interviews GBR’s reporters were transported to 10 countries: Ghana, Burkina Faso, Mali, Nigeria, Niger, Guinea, Ivory Coast, Namibia, South Africa and the DRC.
The continent’s two biggest gold producers, Ghana and South Africa, each with over 100 years of mining history, have been the catalysts for broader-based investment into neighbouring countries where juniors can get cheaper answers from exploration. Namibia, for instance, is considered one of the overall best mining jurisdictions in Africa, while Ivory Coast is one of the most prospective.
In West Africa, host to leading gold miners including Barrick, IAMGOLD, Newmont, Endeavour, Asante, Fortuna Silver, Goldfields, Perseus, Resolute and others, we have been observing a buoyant gold sector. Improved market conditions have turned more geological discoveries into economic ones, so exploration projects are ripe and gold mines operate at peak capacity, both keeping the services sector busy and sending more cash into national budgets.
In the Southern African mining industry the upswing in commodity prices has bought a much-needed uplift in sentiment; a breath of fresh air for South Africa and Namibia whose economies have been severely hit by the pandemic. Investments came in the form of technological upgrades, the pandemic creating a strong digital pull and a mentality shift that prioritizes productivity, sustainability and transparency. GBR met with executives from Gold Fields, Harmony, Lepidico, Trevali, Orion as well as numerous mining service providers.
In the DRC, all descriptions use the superlative form, the country boasting the biggest deposits, the highest grades, and the best mines. DRC’s vast copper and cobalt resources are in particular are in hot demand. But investment in DRC’s mining industry is cordoned off by the country’s reputation, which, much like a person’s, often gets the last word. Without adequate investment, DRC’s US$24 trillion estimated mineral potential is nothing but a chimera. To better understand mining in the DRC, GBR spoke with its mining industry leaders, including Eurasian Resources, Epiroc, Ivanhoe Mines, MMG and many others.