South Africa Mining Industry Overview
Africa is said to hold 30% of the world’s mineral reserves. However, many countries are prone to political instability and uncertainty. In terms of mining supply and services, South Africa is they key supplier for many African countries such as the DRC and Zambia.
South Africa and other countries also import from Europe, Asia and elsewhere in Africa. The mining equipment market in the Middle East and Africa is estimated at USD 5.7 billion in 2015, and is expected to grow to USD 9.7 billion in 2022, a compound annual growth rate of 7.9%.
A major challenge in South Africa and other countries is intermittent power supply. Since 2008, load shedding has cost the South African mining industry an estimated USD 23.7bn in lost revenue.
Many African countries are well endowed with mineral resources, but many also face political uncertainty. South Africa is currently dominant in terms of mining supply and services supply, but there may be room for Canadian players to build on the presence of Canadian mining companies.
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