Editor’s take: In the Chinese zodiac, 2024 signals the year of the Dragon – portraying strength, power, and good fortune. Given the trials and tribulations of the past year, here’s hoping that the year of the Dragon brings some much-needed good fortune to all. So, what do the pundits foretell for the globe’s economic outlook? According to the OECD, the global economic outlook for 2024 is not too promising, with predictions of a mild slowdown to 2.7% in 2024 and a slight improvement to 3.0% in 2025. Goldman Sachs Research, however, is more upbeat, anticipating that the global economy will “outperform expectations in 2024 – just as it did in 2023”. On the Africa front, Economist Intelligence Unit expects the continent to be the second-fastest-growing major region, boosted by the services sector, which continues to play an important role in East Africa. However, it noted that security threats, political instability and repayment burdens are risks to watch out for in the year ahead. On a positive note, data and analytics company GlobalData noted that South Africa's economic growth, which was projected at 0.4% in 2023, would pick up to 1.3% in 2024.
On the cover
Unleashing the Power of 5G: A Vision for Redefining Mining in Africa
The African mining industry stands as a cornerstone of the continent's economic landscape, driving growth and providing employment opportunities for millions. Yet, amidst its immense potential, the industry faces a multitude of challenges, including volatile market conditions, aging infrastructure, and a scarcity of skilled labour. To navigate these hurdles and embrace the digital transformation sweeping across the sector, MTN Business emerges as a trusted partner, committed to empowering mining companies with the cutting-edge technology of 5G Private Networks.
Commodities Outlook for 2024: Gold, Platinum, Diamonds and Coal
- Gold holds strong strategic advantage in 2024
- The platinum market enters a period of sustained deficits.
- The global diamond industry in a state of turmoil
- Rail status will dictate the performance of SA’s coal exports
Top projects: Setting the bar high
Modern Mining’s Top Projects for 2024 are distinguished by their whopping price tags, sheer size, value to the economy and the job market. This year we have selected projects from different commodities – gold, platinum group metals, diamonds and coal – that have set the bar high.
They include Pan African Resources Mintails assets; Platinum Group Metals’ Waterberg PGM project; diamond miner, De Beers Venetia Underground Project (VUP); and Canyon Coal’s Gugulethu Colliery.
Investing in African Mining Indaba 2024 preview
As Investing in African Mining Indaba celebrates its 30-year anniversary in 2024, the much-anticipated event is targeting a bigger and more interactive conference.
According to Kathryn Barnard, Event Director, Investing in African Mining Indaba, which takes place from 5-8 February 2024 in Cape Town, aims to showcase the thriving African mining industry and its readiness for investment, making it a significant event to attend.
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