Mining is the extraction of materials from the ground and can be divided into two categories: surface mining and underground mining. Surface mining involves extracting minerals from the earth’s surface, while underground mining requires tunneling beneath the surface to extract minerals.
Large Scale Vs ASM
It can also be classified according to the scale of the operations, which include large-scale, small-scale, and artisanal mining. Large-scale mining is undertaken by multinational corporations such as BHP, Rio Tinto, and Glencore, which focus on extracting minerals like gold, copper, and diamonds. Small-scale operations are typically conducted by smaller companies in their local countries or small investors in developing countries. Artisanal operations are characterized by the use of rudimentary and crude approaches, human labor-intensive methods, and low productivity.
The small-scale and artisanal mining categories are often grouped as ASM. This category has remained of great interest in research due to its unique characteristics, negative social acceptance, environmental impacts, and sustainability issues.
Top Mining Countries
Did you know that China, Australia, Russia, the United States, and Canada are the top mining countries in the world? These countries produce the majority of the world’s minerals, with an estimated global value of over $600 billion annually. The industry also employs over 10 million people worldwide, with many more jobs indirectly supported by the industry.
However, the industry faces several challenges in the years ahead. One of the biggest challenges is declining ore grades, which means that it is becoming increasingly difficult and expensive to extract minerals from the earth. Furthermore, environmental regulations are becoming stricter, and mining companies must find ways to reduce their impact on the environment.
Despite these challenges, the minerals sector is investing in new technologies and approaches to address these issues. For example, some companies are using drones and other advanced equipment to improve their exploration and mining operations. Others are working to reduce their carbon footprint by using renewable energy sources and adopting sustainable practices.
The future
Looking ahead, the mining industry is likely to continue to play a critical role in the global economy. However, the industry must find new and innovative ways to extract resources sustainably and responsibly. For Africa, the continent has greatly remained unexploited with approximately 30% of the global natural resources remaining in the continent. It is now perhaps the time for Africa to ‘eat’, but it would require strategic positioning driven by quality laws, regulations, policies, and attainable implementation frameworks. The big question is – is Africa ready for mineral-driven economic growth and development?
We at Koolnoch Solutions offer Research consultancy to ensure that you stay ahead of the curve and you are strategically positioned for success! Reach out today for an in-depth conversation.
