Miners and investors were largely optimistic about the potential of Africa’s resource wealth at the Objective Capital Africa Resources Investment Congress, which took place in London, UK, on 12 June.
With both Western and Chinese companies pouring investment into to the continent, Africa’s mining sector looks set to remain a focal point of strategic interest for the foreseeable future.
Africa has, historically, been a source of gold, diamonds, coal and oil for the rest of the world, but the needs of the global economy are evolving.
Minerals targeted by Chinese investment include iron ore, copper and nickel, but also bauxite, for which Chinese local consumption outstrips domestic production by upwards of 30m tpa.
Other minerals being developed by foreign companies in this resource-rich part of the globe include chromite, fluorspar, graphite and vanadium.
Ed Coughlan, Sub Saharan Africa analyst for Business Monitor International, predicted a boom...