In the new Mining Izindaba, the organisers of Mining Indaba (to be held in Cape Town, next February – www.miningindaba.com report “regulatory moves by African countries featured prominently” last week, with Kenya leading the way with regulatory processes that embrace new mining development.
“We have now positioned ourselves for a significant upturn in mining investment which will see this country become a world-class mining jurisdiction and contributor to widespread economic transformation in Kenya and even possibly the new mining hub for the entire East African region,” says Kenya’s new Mining Cabinet Secretary/Minister of Mines Hon. Dan Kazungu in an interview with Mining Review. Kenya’s new mining act came into effect in May this year.
Malawi followed suit last week, by aligning its Mining Regulations and new Petroleum Policy to the Africa Mining Vision, which outlines the roadmap to transparent, equitable and optimal exploitation of mineral resources for the sustainable growth and socio-economic development in Africa. Sadly, Zimbabwe opted for a different path, with its long-awaited mining and minerals bill likely to add to the challenges facing foreign miners operating in the country. A report by Reuters says the draft bill, which has been more than a decade in the making, includes a provision that authorities will only issue mining rights to companies listed on the Zimbabwe stock exchange.
Nigeria is seeking investments of $7 billion in mining and steel sectors over the next decade for developing the gold and iron ore extraction industries to diversify its oil-dependent economy [Business News]. Nigerian solid minerals development minister Kayode Fayemi said that one of the government’s priorities is to meet its annual steel demand of 6.8 Mt. Worth noting that Nigeria has proven deposits covering at least 44 known minerals [Frontera News].
Zambia’s economic outlook and investment environment is positive, with mining, which accounts for 12% of GDP and 70% of the total export value, expected to be the most important sector due to its large known resource base of copper and other deposits [Southern Times]. In fact, Zambia was among the leading investment destinations in Africa in 2015, according to the 2016 African Economic Outlook [Zambia Invest].
The picture shows mining operations explained by GM Operations, Denham Vickers at Base Titanium’s Kwale mineral sands project in Kenya.
