{"id":6655,"date":"2022-05-09T15:05:18","date_gmt":"2022-05-09T15:05:18","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/all-news\/global-scramble-for-metals-thrusts-africa-into-mining-spotlight"},"modified":"2022-05-09T17:39:40","modified_gmt":"2022-05-09T17:39:40","slug":"global-scramble-for-metals-thrusts-africa-into-mining-spotlight","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/global-scramble-for-metals-thrusts-africa-into-mining-spotlight","title":{"rendered":"Global scramble for metals thrusts Africa into mining spotlight"},"content":{"rendered":"

Africa-Press – Botswana. <\/strong><\/span>The need to secure new sources of metals for the energy transition amid sanctions on top producer Russia has increased the Africa risk appetite for major miners, who have few alternatives to the resource-rich continent.<\/b><\/p>\n

Companies and investors are considering projects they may have previously overlooked, while governments are also looking to Africa, anxious to ensure their countries can procure enough metals to feed an accelerating net-zero push.<\/p>\n

This year\u2019s Investing in African Mining Indaba conference, which runs May 9-12 in Cape Town, will see the highest-ranking U.S. government official in years attending, organisers say, as well as representatives from the Japan Oil, Gas and Metals Corporation (JOGMEC), in a sign of rich countries\u2019 rising concern about securing supply.<\/p>\n

\u201cThe reality is that the resources the world wants are typically located in difficult places,\u201d said Steven Fox, executive chairman of New York-based political risk consultancy Veracity Worldwide.<\/p>\n

The U.S. administration wants to position itself as a strong supporter of battery metals projects in sub-Saharan Africa, he said.<\/p>\n

\u201cWhile Africa presents its challenges, those challenges are no more difficult than the corresponding set of challenges in Canada. It may be easier to actually bring a project to fruition in Africa, than in a place like Canada or the U.S.,\u201d he added.<\/p>\n

The United States has voiced support for new domestic mines, but projects have stalled. Rio Tinto\u2019s RIO.AX Resolution copper project, for example, was halted over Native American claims on the land, and conservation issues.<\/p>\n

Certainly, the risks of mining in sub-Saharan Africa remain high. The acute security challenge facing mines in the gold-rich Sahel region was highlighted last month when Russia\u2019s Nordgold abandoned its Taparko gold mine in Burkina Faso over an increasing threat from militants. Read full story<\/p>\n

And even in the continent\u2019s most industrialised economy, South Africa, deteriorating rail infrastructure is forcing some coal producers to resort to trucking their product to ports.Read full story<\/p>\n

Yet with Russia\u2019s 7% of global nickel supply, 10% of the world\u2019s platinum, and 25-30% of the world\u2019s palladium off the table, Africa\u2019s rich deposits of those metals start looking a lot more attractive.<\/p>\n

\u201cAs a mining company, there aren\u2019t many opportunities and if you are going to grow, you\u2019re going to have to look at riskier countries,\u201d said George Cheveley, portfolio manager at Ninety One.<\/p>\n

\u201cClearly, after Russia-Ukraine people are more sensitive to geopolitical risk and you cannot predict which projects are going to work out and which are not,\u201d he added.<\/p>\n

Kabanga Nickel, a project in Tanzania, secured funding from global miner BHP BHP.AX in January, and CEO Chris Showalter said it is seeing increased demand from potential offtakers.<\/p>\n

Western sanctions on Russia over its invasion of Ukraine are forcing metals supply chains to reconfigure along geopolitical lines, Showalter said.<\/p>\n

\u201cNot everyone\u2019s going to be able to get clean battery metals from a friendly jurisdiction, so I think some difficult decisions will have to be made, and it is going to force people to make some new decisions about where they want to source.\u201d<\/p>\n

For More News And Analysis About Botswana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Botswana. The need to secure new sources of metals for the energy transition amid sanctions on top producer Russia has increased the Africa risk appetite for major miners, who have few alternatives to the resource-rich continent. Companies and investors are considering projects they may have previously overlooked, while governments are also looking to […]<\/p>\n","protected":false},"author":84,"featured_media":6654,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6,8,16],"tags":[233,237,234],"class_list":["post-6655","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"\nGlobal scramble for metals thrusts Africa into mining spotlight - Botswana<\/title>\n<meta name=\"description\" content=\"The need to secure new sources of metals for the energy transition amid sanctions on top producer Russia has increase ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/global-scramble-for-metals-thrusts-africa-into-mining-spotlight\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Global scramble for metals thrusts Africa into mining spotlight\" \/>\n<meta property=\"og:description\" content=\"The need to secure new sources of metals for the energy transition amid sanctions on top producer Russia has increase ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/botswana\/all-news\/global-scramble-for-metals-thrusts-africa-into-mining-spotlight\" \/>\n<meta property=\"og:site_name\" content=\"Botswana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-09T15:05:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-09T17:39:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2022\/05\/img-627951c230cec.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1395\" \/>\n\t<meta property=\"og:image:height\" content=\"1043\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/global-scramble-for-metals-thrusts-africa-into-mining-spotlight#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/global-scramble-for-metals-thrusts-africa-into-mining-spotlight\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Global scramble for metals thrusts Africa into mining spotlight\",\"datePublished\":\"2022-05-09T15:05:18+00:00\",\"dateModified\":\"2022-05-09T17:39:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/global-scramble-for-metals-thrusts-africa-into-mining-spotlight\"},\"wordCount\":539,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/global-scramble-for-metals-thrusts-africa-into-mining-spotlight#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2022\/05\/img-627951c230cec.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Botswana\",\"Botswana\"],\"articleSection\":[\"all news\",\"files\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/botswana\/all-news\/global-scramble-for-metals-thrusts-africa-into-mining-spotlight#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/global-scramble-for-metals-thrusts-africa-into-mining-spotlight\",\"url\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/global-scramble-for-metals-thrusts-africa-into-mining-spotlight\",\"name\":\"Global scramble for metals thrusts Africa into mining spotlight - 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