Africa’s hidden geodata loses billions of mining investment for the continent
In a continent where 40 per cent of the world’s natural resources lie beneath the surface, only 30 per cent have been thoroughly explored. But the challenge isn’t just geology. It is in its governance. More specifically, it’s the invisible curtain shrouding Africa’s geological survey data that may be deterring billions in potential investment.
At the recent London Indaba, Mark Cutifani, Chairperson of Vale Base Metals and a mining heavyweight formerly at Anglo American, struck a chord during his opening keynote, as he shared, “Malawi is the first, and I believe Nigeria is the second.” He wasn’t talking about mineral production, infrastructure milestones, or new critical mineral discoveries. He was referring to a fundamental but overlooked advantage: open-source geological data.
Among all the minerals that Africa has, bauxite holds great potential among others. The global metallurgical bauxite for aluminium market is expected to grow significantly between 2023-2030. According to AL Circle estimates, the market was worth USD 15.5 billion in 2023. However, by 2030, a substantial increase is anticipated, with the market size projected to reach USD 19.6 billion at a CAGR of 2.41 per cent.
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