Chamber of Mines Highlight Prospects in Respective Markets at Critical Minerals Africa (CMA)

 

Representatives from Chambers of Mines across African countries rich in energy transition metals presented their nations’ mineral assets and investment prospects during a panel discussion held on Day one of the Critical Minerals Africa (CMA) 2024 Forum.

Thomas Gono, President of the Chamber of Mines of Zimbabwe, stated that the country’s Great Dyke, a geological phenomenal holding lithium, copper (https://apo-opa.co/3YEdogJ), platinum and reserves of various critical minerals.

“We have yet to fully explore Zimbabwe for lithium. Just one project – the Bikita Lithium Facility – produces 300,000 tons of lithium annually. Imagine the output if we explored the entire country,” stated Gono.

He said Zimbabwe plans a comprehensive exploration for rare earths, citing investments in value addition as the greatest opportunity in the southern African nation.

“Historically, we exported raw materials, missing out on potential benefits. With Africa’s young workforce, we now have an opportunity to drive revenue and create jobs through skills development and local beneficiation,” he added.

Sokwani William Chilembo, CEO of the Zambia Chamber of Mines, noted that policy inconsistencies have previously hindered Zambia’s mining growth. However, recent policy reforms since 2021 are creating a favorable investment climate.

“The priority for both government and private sector is growth. We now have open communication channels that balance both parties’ interests. Our collaborative efforts are also focused on resolving the energy shortages seen in the past two years,” Chilembo said.

Zambia aims to leverage its lithium, graphite and rare earth resources alongside its established copper industry, according to Chilembo.

Benjamin Mchwampaka, Executive Secretary of the Tanzania Chamber of Mines, underscored the government’s efforts to support small-scale miners, particularly in the graphite sector.

“With 7 million small-scale miners, their role is crucial. Our updated Mining Act includes clauses specifically aimed at empowering this group of miners,” stated Mchwampaka.

Nomsa Mbere, Partner at Webber Wentzel, addressed the need for collaboration between private and public mining entities to overcome Southern Africa’s logistics challenges for critical minerals.

“No single mining company can fund a regional transport network. Cooperative efforts can reduce transport costs and enhance resource monetization,” Mbere stated.

She also stressed the importance of partnerships in establishing regional or local processing facilities, where established players can support emerging junior miners.

Distributed by APO Group on behalf of Energy Capital&Power.