Nornickel, the world’s largest palladium producer, is exploring new technologies to sustain demand for palladium, particularly in China, as the rise of electric vehicles diminishes the need for the metal in traditional internal combustion engine (ICE) vehicles. The company is partnering with Chinese universities and industries to develop applications in hydrogen production and water purification, which could generate up to 15 tons of new, long-term palladium demand. As China leads the charge in green technologies, Nornickel is positioning itself to meet the evolving demand and maintain its market dominance through innovation and collaboration.
Category: Industry Trends and Market Analysis
Economic Strain and Protests Shrink Kenya’s Smartphone Market
Smartphone exports to Kenya have sharply declined as political protests and economic pressures take a toll on consumer spending. Rising inflation and reduced disposable incomes have forced many Kenyans to prioritize essentials, leading to a drop in demand for both high-end and budget devices. Retailers and manufacturers are scaling back shipments, while the industry grapples with the dual challenges of disrupted supply chains and a weakened economy.
Unlocking Africa’s Growth Potential: The Role of Transport Infrastructure
Africa’s economic growth and social progress hinge on modern, integrated transport infrastructure to connect communities, boost trade, and reduce inequality. Challenges such as poor road networks, congested ports, and inadequate cross-border systems hinder the movement of goods and people, raising logistics costs and limiting competitiveness. Governments are prioritizing transport infrastructure under initiatives like the African Continental Free Trade Agreement (AfCFTA), supported by innovative financing models like public-private partnerships (PPPs). Institutions like Nedbank Corporate and Investment Banking play a crucial role in mobilizing investment to unlock Africa’s potential, paving the way for a connected, prosperous, and inclusive future.
Increasing Wave of Illegal Miners Resurfacing from North West Mineshaft
Nearly 600 illegal miners have resurfaced from a Stilfontein mineshaft in North West South Africa, following intensified police and South African Defence Force (SANDF) interventions aimed at curbing illegal mining activities. Many of these miners, who have spent over a year underground, primarily hail from neighboring countries like Mozambique and Lesotho, seeking better economic opportunities. Upon emerging, they are met by law enforcement officials who arrest them and provide basic necessities while awaiting legal processing. This situation highlights the urgent need for comprehensive solutions to the illegal mining crisis, as it poses significant humanitarian, legal, and socio-economic challenges for both the individuals involved and the broader community.
Weir Group Lands £25 Million Contract for Advanced Separation Technology in Morocco
On September 30, 2024, The Weir Group PLC announced a substantial £25 million contract to provide energy-efficient separation solutions for the OCP Group’s Benguerir and Louta greenfield phosphate projects in Morocco. This contract includes the supply of advanced WARMAN® slurry pumps and CAVEX® hydrocyclones, aimed at supporting the construction of the Louta project and tripling production at the Benguerir site. Jon Stanton, CEO of Weir, emphasized that the contract signifies a strong endorsement of their technologies, which are designed to enhance productivity while meeting sustainability goals. With an impressive projected mine life of over 100 years, this collaboration positions Weir as a key partner in Morocco’s phosphate mining future.
Strengthening Africa’s Critical Mineral Sector: Major Investments Fueling Economic Growth
In September 2024, the Industrial Development Corporation of South Africa (IDC), along with the Development Bank of Southern Africa (DBSA) and Tanzania’s CRDB Bank, announced a significant $179 million investment in Tanzania’s Mahenge Graphite Project. This financing aims to capitalize on the growing demand for energy transition metals, positioning Tanzania as a key player in the global market with an output of 347,000 tons per annum. The funding reflects a broader trend of African nations seeking to reduce reliance on foreign financing while gaining greater control over mining projects. As regional financial institutions bolster support for critical mineral initiatives, the upcoming Critical Minerals Africa (CMA) 2024 summit will explore innovative investment opportunities and local financing mechanisms, highlighting Africa’s vast potential in the critical minerals sector.
Lucara Diamond Corp. Unveils Impressive 1,094-Carat Diamond from Botswana
Lucara Diamond Corp. has successfully recovered an extraordinary rough diamond weighing 1,094 carats from its Karowe Mine in Botswana. This remarkable find follows the earlier discovery of a 692-carat diamond, which was polished by HB Antwerp and sold for over US$13 million. The new diamond will also be polished by HB Antwerp, continuing their partnership.
As the sixth diamond exceeding 1,000 carats recovered by Lucara, this discovery highlights the company’s ability to unearth large, high-value stones from the South Lobe of the Karowe Mine. William Lamb, President and CEO, emphasized that this recovery underscores Karowe’s potential and reinforces the company’s position in the high-end diamond market.
Africa Adaptation Acceleration Program Wins Top NDC Adaptation Investment Award for Groundbreaking Climate Efforts
The Africa Adaptation Acceleration Program (AAAP) has been awarded the “Best Investable NDC Adaptation Investment Initiative of the Year” at the 2024 African NDC Investment Awards. Launched by the African Development Bank and the Global Center on Adaptation, AAAP aims to mobilize $25 billion by 2025 to drive climate adaptation projects across Africa, focusing on infrastructure, food security, and youth entrepreneurship. The program has already raised over $9 billion and is transforming lives in 41 countries.
Mission 300: A Global Coalition’s Ambitious Plan to Electrify 300 Million Africans by 2030
Ahead of Climate Week NYC, a global coalition of organizations, including the Global Energy Alliance for People and Planet (GEAPP), Sustainable Energy for All (SEforALL), and The Rockefeller Foundation, launched “Mission 300” to bring electricity to 300 million Africans by 2030. The initiative, supported by the African Development Bank and World Bank, aims to mobilize private sector financing and technical assistance across 11 African nations, transforming energy access and fostering economic growth across the continent.
Harnessing Sub-Saharan Africa’s Critical Mineral Wealth
In this groundbreaking study, Wenjie Chen, Athene Laws, and Nico Valckx delve into [insert topic], offering fresh insights and comprehensive analysis. Their collaborative research highlights [insert key findings or themes], providing a valuable contribution to the field of [insert field]. This work not only advances current understanding but also sets the stage for future exploration and innovation.
Overcoming the Barriers to Africa’s Mineral Potential
Africa’s vast mineral wealth holds the key to the global energy transition, yet the continent remains hindered by a lack of systematic geological mapping, inadequate infrastructure, and outdated mining practices. Despite holding a fifth of the world’s metal reserves, Africa struggles to fully tap into this potential. To unlock these resources and transform the continent’s role in the global mineral market, significant investments in advanced technologies, infrastructure, and value-added processing are essential. The future of Africa’s mineral sector depends on overcoming these barriers and seizing the opportunities that lie ahead.
Excessive Cargo Control Measures Stifle Trade at Beitbridge
The Beitbridge Border Post, despite a $300 million upgrade, is once again mired in congestion and delays. Excessive cargo control measures, including a 100% scanning regime and fuel duties, have slowed transit times to over 24 hours, frustrating transporters who must still pay a $200 fee. This inefficiency is stifling regional trade and undermining Zimbabwe’s role as a key transit hub in Southern Africa.
Egypt Takes a Major Step in Localizing Mobile Phone Tower Manufacturing
Egypt is making strides in technological self-reliance with the opening of its first mobile phone tower manufacturing facility by the Arab Organisation for Industrialisation (AOI). Situated within the Aircraft Factory, this new center represents a significant leap in localizing technology and reducing reliance on imports. Already, the facility has achieved a 100% local manufacturing rate for mobile phone towers, fulfilling orders for Etisalat Misr and setting the stage for expanded production and potential export opportunities across Africa and the Arab world.
Club Car Partners with AFGRI Equipment as New South African Distributor
Club Car has appointed AFGRI Equipment as its new official distributor in South Africa, expanding the brand’s reach across Southern Africa. This partnership will see AFGRI supply Club Car’s full range of golf, utility, and consumer vehicles through its extensive dealership network. Both companies are excited about the synergy this collaboration brings to the golf and turf industry, with a focus on delivering innovative and reliable products to the market.
Azule Energy Pioneers World’s First Green FPSO Vessel in Angola
In an ambitious stride towards securing its place in the global energy market, Angola has embarked on a groundbreaking journey with Azule Energy leading the […]
South African Asset Managers’ Response to Shifting Investment Trends and Political Uncertainty
In the midst of evolving investment landscapes, South African asset managers have notably adjusted their strategies, as highlighted in the 2023 Alexforbes Manager Watch Annual Survey. Over the past five years, a discernible trend has emerged, with a greater focus on global equities alongside recalibrations in domestic allocations. However, this strategic maneuvering unfolds against a backdrop of political uncertainty following national elections, with discussions of a Government of National Unity stirring market volatility. Yet, armed with insight and adaptability, South African asset managers remain poised to navigate these challenges, steering investments towards long-term prosperity amidst shifting sands.
Zimbabwe Licenses Starlink for Satellite Internet Services in Strategic Tech Partnership
Zimbabwe has officially licensed Elon Musk’s Starlink to provide satellite internet services, becoming the eighth African country to do so. President Emmerson Mnangagwa announced the partnership with local company IMC Communications, owned by his associate Wicknell Chivayo. This move aims to revolutionize Zimbabwe’s digital landscape by offering high-speed, low-cost internet, particularly benefiting rural areas. Economist Stevenson Dlamini highlighted the potential cost challenges but emphasized the long-term benefits for schools, hospitals, and other public facilities.
Atlantic Lithium Makes History on Ghana Stock Exchange
On May 13th, 2024, Atlantic Lithium made history by becoming the first lithium-focused company to trade on the Ghana Stock Exchange (GSE) under the ticker “ALLGH.” This milestone marks the beginning of Ghana’s first lithium mine, the Ewoyaa Lithium Project, which is set to produce 365,000 tonnes of spodumene concentrate annually. The listing offers Ghanaians a unique investment opportunity and signifies a major step in the country’s economic and green energy transition efforts.
UNDP Announces Groundbreaking Start-Up Ecosystem Event in South Africa
The United Nations Development Programme (UNDP) is thrilled to announce an exciting new event in South Africa as part of the “UNDP Meet the Toshikas” initiative, which also spans Angola and Zambia. This event is set to connect investors, accelerators, incubators, local corporates, and governmental bodies with innovative start-ups. Out of 254 applicants, 10 outstanding start-ups from South Africa have been selected to pitch their groundbreaking ideas. The event will feature insightful presentations and panel discussions with key ecosystem stakeholders and esteemed Japanese investors, fostering robust
business networks and facilitating collaboration opportunities. Supported by Japan’s Ministry of Economy, Trade, and Industry (METI), “Meet the Toshikas” aims to empower young African entrepreneurs, enhance their competitiveness, and attract Japanese venture capital investment to Africa. For more information, visit UNDP Meet the Toshikas.
Nigerian Government Revokes Hundreds of Dormant Mining Licenses
In a sweeping move aimed at revitalizing Nigeria’s mining sector, the Federal Government, acting through the Ministry of Solid Minerals Development, has revoked a staggering 924 dormant licenses. This bold step, following a similar revocation in November 2023, underscores the government’s commitment to combat license speculation and promote active mining. Minister Dele Alake emphasized the adherence to due process, providing license holders ample notification through official channels. The revocation, spanning exploration, mining, quarrying, and small-scale mining licenses, aims to allocate resources to those committed to productive mining activities, fostering economic growth and transparency in the sector.
Oil Prices Surge Amid Rising Tensions in Middle East
Tensions escalated in the Middle East on Friday as Israel conducted a limited military strike on Iran, prompting a sharp increase in oil prices and […]
Google’s James Manyika: How we can foster AI investments and partnerships in Africa
Opinion by James Manyika March 21st, 2024 Artificial Intelligence (AI) has become a focal point of global discourse, captivating the attention of governments, businesses, and […]
BRICS: Empowering African Industry, Mining, and Production
BRICS: Empowering African Industry, Mining, and Production