Browsing: Renewables

The changing face of the global mining industry
  • The global mining industry is changing minerals that drove mining activity and profits are slowly being eclipsed by the emergence of a new class of resources, PWC reports.
  • The pursuit of net zero emissions has altered the global mining industry which is increasingly leaning towards the production of minerals used in renewable energy and away from the production of fossil fuels.
  • According to PWC Fossil fuels still contribute substantially to global mining companies despite critical minerals taking center-stage.
  • Global mining activity despite the threat of global warming is not slowing down. It is to the contrary on the rise as the world looks for ways of reducing carbon emissions.
  • At the turn of the millennium the global mining industry was driven by mass urbanization of emerging market economies like China, Brazil, India and Russia this projected to slow down or lose ground to the pursuit of renewable energy sources.

PWC's…

Africa’s post-Covid-19 growth recovery and economic prosperity are dependent on renewable energy which will be a critical driver. 

According to International Energy Agency data, scaling up Africa’s capacity to achieve universal access to energy by 2030 would require over US$100 billion per year. Of this amount, 40 per cent would be dedicated to solar, wind, and other low-carbon power generation projects. 

There are a number of initiatives meant to accelerate electrification on the continent among which is the African Development Bank (AfDB)’s New Deal on Energy for Africa which is a transformative partnership-based strategy that aims to increase access to energy for all Africans.

Read Africa’s long journey to clean energy access keeps aborting

At the 2021 UK Africa Investment Summit held in January this year, panelists agreed that investing in large-scale electrification projects would be key to getting Africa’s economy off the runway. 

With such sentiments,

The expansion of Africa’s economy—exemplified by East Africa’s vibrant economies(Kenya, Tanzania, and Rwanda) by adopting the manufacturing industry landscape and marrying it with high-end technological developments have both triggered a demand for more power,currently leaning towards renewable energy—all the while grappling with the challenge of high unemployment rates.

The United Nations 25thConference of Parties (COP 25) on climate change highlighted strictly on nations mitigating greenhouse gas emissions by adapting to renewable energy in their economies.

Morocco and Zambia are now embracing the adoption of wind and solar power with assistance from Green Climate Fund (GCF) and the African Development Bank (AfDB).

GCF and AfDB supported Zambia with a $154 million renewable energy fund to finance its framework, and lift the nation from electricity demand challenges, as the country relies on hydropower generation for 90 per cent of its needs.

Renewable energy in Africa could be a mighty saving…