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Africa: Latest developments in Sub-Saharan Africa’s mining sector

15 June 2023
– 1 Minute Read


Global factors, particularly the move towards sustainable energy, have aligned to create significant opportunities in the African mining sector, which is primed to perform strongly regardless of geopolitical or economic downturn pressure.

According to Fitch Solutions’ South Africa Mining Report for Q2 2023, the continent houses an abundance of ‘green’ metals, such as lithium, cobalt, nickel, graphite, rare earth minerals, iron, copper, phosphate and platinum group metals. The move towards low-carbon energy also creates opportunities for platinum group metals. In addition, many countries are looking to use their mineral resources to develop their economies through processing and refining. For example, lithium-rich countries, including Namibia and Zimbabwe, are working towards challenging China’s dominance in this space.

We have seen a significant uptick in mining M&A and vertical integration plans. The question is whether cash flush majors will continue to watch and wait or make strategic investments.

Developments in four of the jurisdictions in which Bowmans is located – Kenya, South Africa, Tanzania and Zambia – have been collated in a report available here.