Rising commodity prices may have renewed the market's enthusiasm for Africa's resources, but with the mining industry in Cape Town, coal and iron ore markets are unlikely to be the focus.
The boom in electric vehicles and the changing industrial demands that have accompanied them have made previously thin metals (from cobalt lithium to praseodymium rare earths) a new hot spot for African mining.
The new mines are smaller and cheaper to develop than the giant mines, developed ports and rail facilities that the previous generations, such as BHP Billiton Ltd., and Rio Tinto Group, sought. So these new generation mines may have a greater chance of success.
Here are the five categories of metals currently attracting global attention in Africa.
Malawi -- rare earths
In November 2017, troubled commodities trader Noble Group Ltd surprised metal market watchers by investing 12 million pounds ($17 million) in the malawian rare earth project. Rare earth mine operator Mkango Resources Ltd said deposits of its neodymium praseodymium rare earth variety will be used as magnets for products such as electric vehicles and wind turbines.
Tanzania -- niobium
Us private equity firm Denham Capital Management LP supports the Panda Hill niobium project in northern Tanzania.
Niobium, named after a Greek goddess and later a symbol of a grieving mother, is used to significantly reduce the steel consumption of industrial pipes and aircraft parts. The panda mountain project promises to build the first new niobium mine in 40 years. Niobium is rare because it is mined in only three regions.
Mozambique -- graphite
The traditional use of graphite, which supplies steel mills and the lubricant industry, is benefiting from new energy vehicles, such as the new demand in lithium-ion batteries for electric vehicles made by tesla. In November, Australia's Syrah Resources ltd. began shipping from what is said to be the world's largest graphite deposit in northern mozambique.
Dr Congo -- cobalt
While Glencore, the world's largest commodities trader, was once attracted to copper in the democratic republic of Congo, cobalt, a byproduct of copper, is now a "star" metal. Cobalt prices, a key component of electric vehicle batteries, have tripled in the past two years and glencore is taking advantage of growing demand. Central African cobalt production is expected to more than double to at least 58,000 tonnes by 2019, accounting for about 40 per cent of global supply.
