According to the paper, by concentrating investments in key locations, it may be possible to provide a consistent and dependable supply of vital resources for the global economy, develop resilient supply chains, and promote socioeconomic prosperity locally.
In the energy transition raw materials sector, the research highlights a number of important issues, such as the need for investment, industry-government cooperation, value addition, generating shared social and economic benefit, and changing public attitudes about the minerals business.
It highlights the crucial role that the minerals sector plays in the development of a country, especially in supplying raw materials and facilitating the growth of infrastructure. In the energy transition, the industry must strike a balance between local socioeconomic growth in supplier nations and emission reduction targets.
In order to increase economic value and market access, the research states that value creation frequently involves downstream processing and value chain integration.
But the effects of these expenditures differ from industry to industry, casting doubt on the notion that downstream integration invariably generates added value. To secure and safeguard vital supply networks, nations and businesses are reassessing the actual production sites.
Resource-rich countries are now focussing on mineral value addition as a result of this change. Instead of exporting raw resources, these countries want to make more valuable midstream or downstream products, particularly minerals that are essential to clean energy equipment.
According to the research, value-adding policies have been put into place all over the world. Advanced economies like Australia and Canada, as well as emerging nations in Africa, Asia, Latin America, and the Middle East, are developing rules to guarantee that investments result in substantial financial rewards and long-term growth. The goal of policymakers is to maximize profits by taking into account elements like market dynamics, competitiveness, and benefits.
Mining, refining, and infrastructure development will need to be heavily invested in in order to meet the growing demand for transition minerals that are essential for low-carbon technology.
While mining assets accounted for the majority of previous investments, processing will need to be given more attention in the future to meet the intricate refining requirements of commodities like nickel and lithium.
To guarantee the availability and affordability of necessary minerals, the research states that investments in dependable, reasonably priced infrastructure, such as ports, roads, and power, will become more crucial as mining activities expand to more isolated locations. The worldwide shift to a low-carbon economy will be aided by these initiatives, which will promote sustainable industrial growth.
Because it produces raw materials, generates employment, and propels infrastructural growth, mining plays a significant role in societal and economic development. The research does emphasize, however, that strong commercial frameworks that incorporate sustainability and common value propositions are essential for success.
The industry’s operational and financial performance highlights the need for innovation and effective resource management, as it is molded by the unstable commodity markets and regulatory frameworks.
For long-term profitability to be maintained, issues like resource depletion, project cycle periods, and geopolitical problems must be resolved. The mining industry can benefit from a multi-stakeholder strategy that includes communities, businesses, and governments in order to generate shared value.
Throughout history, the “extract-and-ship” approach has led to conflicts and underfunding of infrastructure and regional development. Nonetheless, the report claims that the business is currently moving in the direction of promoting shared prosperity.
As to the research, governments play a crucial role in fostering an atmosphere that encourages cooperation and the exchange of values. Governments may mobilize ecosystems across regions, including Western and Central Asia and the Super Region of Africa, by funding infrastructure, establishing regional hubs, and granting access to money.
A roadmap that works for all parties involved and promotes prosperity as a whole requires clearly defined roles and common goals. To meet stakeholder expectations and achieve sustainable growth, governments, businesses, and communities must establish long-lasting partnerships and transparent accountability.
The resource-rich superregion of Africa and Western and Central Asia are highlighted in the report as important areas of concentration.
By 2024, this region—which spans 79 countries over a 9 000 km stretch from South Africa to Kyrgyzstan—will have more than 50% of the world’s population and make up 33% of the world’s landmass.
In addition to becoming a major source of demand in the future, the report highlights the region’s ability to supply vital minerals for the energy transition and global development.
source : miningweekly
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