Wood Mining & Minerals international engineering, project and technical services company says countries that boast favourable mining regulations will capitalise once the industry improves.
Trevor Anderson, the firm’s Europe, the Middle East and Africa Business Development Director there are encouraging signs indicating an upturn in the industry.
“I am optimistic about the outlook for Africa’s mining industry. Of late, green shoots are starting to emerge, with more mining activities taking place and exploration budgets increasing, which is always positive,” said Anderson.
He adds that more mining jurisdictions are realising the importance of having investor-friendly regulations, as this directly affects the growth of their resource sectors.
“Countries with favourable mining regulations and jurisdictions will benefit and grow, as they support mining activities and accommodate the ease of operation in their countries.
“In this vein, such jurisdictions present the biggest opportunities in Africa for service providers like Wood,” Anderson said.
Anderson said Rwanda is becoming more investor-friendly and is, therefore, starting to show similarly favourable results.
He avers that, with regard to mining, Africa is an “undiscovered jewel”, as the continent still has a lot to offer in terms of resources and future potential.
“The amount of resources still untapped in Africa will result in the continent’s offering on the mining front being [considerable] for many years to come.
This potential, coupled with the upturn in the commodities cycle that will hopefully materialise soon, will provide opportunities for the mining industry to grow and to produce for global consumption.”