May 17, 2020

Deep sea mining: countries in Africa should urge caution, says new report

Pacific Possible
deep sea mining
deep sea exploration
deep sea mining
Dale Benton
2 min
Deep sea mining: countries in Africa should urge caution, says new report
A report published by World Bank has issued a warning to Pacific Island countries planning deep sea mining activities to consider the potential damage t...

A report published by World Bank has issued a warning to Pacific Island countries planning deep sea mining activities to consider the potential damage to ecosystems.

The ‘Pacific Possible’ report also urges countries to ensure that the necessary social and environmental safeguards are measured in full before proceeding.

According to the report, despite the increase of deep sea exploration of minerals and resources globally, as “no exploitation has taken place to date, there is no real life data on how it might influence these ecosystems and the services they provide.”

The report was created to help understand and consider opportunities that exist for Pacific Island countries over the next 25 years and identifies the biggest challenges that require urgent action – such as the unknown impacts of deep sea mining.

Pacific Island countries such as Fiji, Papua New Guinea and Tonga frequently are just some countries that have been granted permits to conduct deep sea exploration.

"Natural resources belong to a country's citizens and if mining does occur, those resources should lead to economic growth and social development," said Franz Drees-Gross, World Bank country director for Papua New Guinea, Timor-Leste and the Pacific Islands.

"We hope this comprehensive paper will help Pacific Island governments to identify information gaps around deep sea mining, build the necessary institutional and professional capacities and ensure sustainable outcomes."

Read the Pacific possible report.

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Dec 16, 2020

Zimbabwe targets £8.8bn mining industry by 2023

Zimbabwe
exploration
Gold
Dominic Ellis
3 min
Government plans to fast-track exploration, evaluation and digitalisation of selected reserved mining areas
Government plans to fast-track exploration, evaluation and digitalisation of selected reserved mining areas...

Zimbabwe’s government plans to fast-track exploration, evaluation and digitalisation of selected reserved mining areas under the Ministry of Mines and Mining Development as part of wider measures to achieve a £8.8 billion mining industry by 2023, according to a senior government minister.

Information Minister Monica Mutsvangwa said other plans include stopping the issuance of special grants in the reserved areas under the Ministry of Mines and Mining Development until the exploration and evaluation is complete and a robust value addition program for diamonds is implemented. 

Mutsvangwa was speaking at a post-cabinet media briefing on December 15.

She adds that the issuance and renewal of special grants for energy should also be based on the financial and technical capacity to value add all types of coal, as well as for ideal exploration of Coal Bed Methane.

For renewal of special grants, consideration should take into account the period the Special Grant has been held as well as plans with milestones for value addition of the special grant, Mutsvangwa says. She adds that the Zimbabwean government expects gold to drive the mining sector in order to achieve the ambitious target, with the precious metal expected to contribute approximately £2.96 billion to the overall target.

Mining is one of Zimbabwe’s major contributors to its economy, alongside agriculture, which is the mainstay. The mining sector accounted for more than 60 percent of the country’s foreign currency receipts in 2019, and contributed around 16 percent to national Gross Domestic Product, the Chamber of Mines says.

The country’s mining industry is focused on a diverse range of small to medium mining operations. The most important minerals produced in Zimbabwe include gold, asbestos, chromite, coal and base metals.

Zimbabwe expects its economy to expand by 7.4 percent in 2021 from a projected contraction of 4.5 percent this year, due to the effects of drought and the COVID-19 global pandemic.

When presenting the 2021 National Budget in November this year, Finance and Economic Development Minister, Professor Mthuli Ncube, said that the mining sector is projected to rebound by 11 percent next year after surviving a COVID-19 induced shock that saw the sector contract by 4.7 percent in 2020. In September, mining bans in national parks were introduced, according to news agencies.

He added that the National Budget would allocate £1 billion towards the operations of the ministry for planning, promotion and exploration, data capturing, and automation, among other key mining processes.

Other factors necessary for the achievement of the £8.8 billion target include a stable macroeconomic environment, policy consistency, and availability of long-term capital to fund mining projects along the entire mineral value chain, the minister said. 

Stopping "illicit financial flows" from gold smuggling is another key issue to address, according to media reports.

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