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It is crucial for Africa to position itself as a key player in the copper industry , particularly in the context of the growing green energy initiative . Known as a predominantly long-cycle commodity , copper typically takes up to three years to be incorporated into an existing mine and up to eight years to establish a new greenfield project . As such , long-term planning and investment are imperative to counteract losses from aging mines and ensure a sustainable future for the continent .
Antofagasta Plc , BHP , Codelco and First Quantum Minerals Ltd ) based outside of Africa .
In South Africa , investment in mining exploration has lagged since 2003 , leading to a decline in output . In the case of Anglo American , this decline is reflected in an overall drop in ore grades , significantly impacting output in 2022 .
For Zambia , government intervention has hampered copper production , but there are hopes for a rebound in the medium term as agreements are reached and funding is secured .
The current and future trends of copper underscore its critical role in the evolving global energy landscape . As nations grapple with ESG considerations , supply chain challenges and environmental impact , strategic planning and collaboration are essential to ensure a responsible and sustainable future for the copper industry . Africa , in particular , stands at a pivotal moment , with the opportunity to assert its role as a significant player in the copper market of tomorrow . •
Source : Supplied by BDO , South Africa
66 % of deals in the mining sector last year were centred around critical minerals , with copper dominating at 85 %.
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