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Sand Scarcity and the Politics of Sand: A Global Conundrum

2024-08-12 01:09:07.382000

Miners are not only making strides in the gold industry but also leading the way in various other sectors [6b4454ba]. They have adopted innovative practices and technologies to improve efficiency and sustainability. One such example is the cryptocurrency mining industry, which has been scrutinized for its environmental impact. However, some companies, like Bit Digital, have taken steps to address this concern by moving their operations to regions with abundant renewable resources and utilizing carbon-free energy [c53d69e1]. This demonstrates the importance of collaboration between miners and other sectors to drive positive change and create a more sustainable future [6b4454ba]. The mining industry can serve as a model for other industries by adopting responsible practices and embracing innovation [6b4454ba]. By investing in sustainable projects and prioritizing renewable energy sources, business leaders can contribute to broader sustainability goals and shape the trajectory of their respective industries [c53d69e1].

In a recent development, DRDGOLD Limited, a South African company, has announced its participation in the upcoming 121 Mining Investment Conference in Cape Town [0c855fc7]. The conference, scheduled for February 5-6, 2024, will bring together over 125 mining companies and more than 550 sophisticated investors for targeted 1-2-1 meetings [0c855fc7]. DRDGOLD Limited, a world leader in reclaiming surface gold resources, will have the opportunity to showcase its commitment to creating value for all stakeholders while aligning with 'Green Mining' principles [0c855fc7]. This participation highlights the company's dedication to responsible mining practices and its focus on sustainability.

Jupiter Mines Ltd, an Australian company and a pure-play manganese mining producer, is also participating in the 121 Mining Investment Conference in Cape Town [eb35b1e7]. With a 49.9% stake in Tshipi é Ntle Manganese Mining, Jupiter Mines aims to grow its exposure to manganese, a key metal used in steel and renewable energy [eb35b1e7]. The company has a track record of returning value to shareholders and has released a Company Strategy following a strategic review [eb35b1e7]. This participation at the conference provides Jupiter Mines with an opportunity to engage with investors and showcase its plans for future growth and sustainability.

The Global Investor Commission on Mining 2030 has outlined its plans to establish best-practice standards in the mining sector. It also intends to conduct a landscape research project to gain insights into future supply and demand challenges [9736b983]. This initiative highlights the growing importance of responsible mining practices and the need for collaboration between investors, industry stakeholders, and regulatory bodies to achieve sustainability goals in the mining sector.

The Minerals Income Investment Fund (MIIF) in Ghana aims to transform the mining sector into a cornerstone of the country's economy [a5696cf3]. MIIF's CEO, Edward Nana Yaw Koranteng, stated that the organization's objective is to create sustainable generational wealth and that its role goes beyond funding mining projects [a5696cf3]. MIIF invests in capacity building, research and development, and covers every facet of the mining value delivery chain [a5696cf3]. The organization has several major investments in the sector, including a scholarship program for women, the establishment of a mining museum, the creation of a minerals testing and technology center, and the development of a jewelry making training center [a5696cf3]. MIIF is also piloting a small-scale mining incubation program and plans to launch a physical Gold-Linked Exchange Traded Fund (ETF) by September 2024 [a5696cf3]. This initiative demonstrates MIIF's commitment to transforming the mining sector and creating sustainable economic growth in Ghana.

The Senate, Federal Ministry of Solid Minerals Development, and stakeholders in the solid minerals sub-sector of the Nigerian economy gathered at a three-day Investigative Hearing on the Nigeria Mining Industry [46e6da9e]. They agreed on the need to explore solid minerals for the purpose of tackling the current foreign exchange crisis in the country [46e6da9e]. Senate President Godswill Akpabio emphasized the need to transform the mono-economy into a fully diversified economy [46e6da9e]. The Minister of Solid Minerals Development, Mr. Dele Alake, highlighted the importance of shifting focus to the solid mineral sector and injecting life into it [46e6da9e]. He mentioned that other countries solely rely on solid minerals and are thriving [46e6da9e]. The revenue performance of the Solid Minerals Sector has been increasing in the last five years, but it has not yet reached its full potential [46e6da9e]. The Ministry is partnering with the Nigerian Bureau of Statistics to improve the quality of research and data [46e6da9e]. The Ministry is also increasing its data gathering capacity and visibility of the system [46e6da9e]. The Senate is taking action on electricity tariff hike and has passed the Students Loan Act Amendment Bill [46e6da9e].

The Ministry of Solid Minerals Development is determined to ensure that the solid minerals sector's contribution to Nigeria's Gross Domestic Product (GDP) surpasses that of oil, according to the minister, Dr Dele Alake [7e4a7d2a]. The administration of President Bola Tinubu is implementing policies and initiatives to diversify the economy and generate more revenue than oil [7e4a7d2a]. The move is necessary due to the global upsurge of energy transition, which will reduce the demand for oil [7e4a7d2a]. Nigeria possesses critical minerals in commercial quantities across its states needed for energy transition, and the ministry is aggressively marketing them to attract big players to invest in the sector [7e4a7d2a]. Negotiations are ongoing with an auditing firm to audit the sector and recover lost revenue [7e4a7d2a]. A preliminary survey conducted by a German company, Geo Scan, indicates that Nigeria has $750 billion worth of solid minerals underground [7e4a7d2a].

The Federal Government of Nigeria, through the Ministry of Solid Minerals Development, plans to use satellite technology to monitor mining sites nationwide. The Minister of Solid Minerals Development, Dr. Dele Alake, stated that the satellite surveillance gadgets will enable real-time monitoring of all mining sites in Nigeria, allowing for quick deployment of mining marshals to address any infractions. The government aims to attract investors to the sector by implementing policies and initiatives that secure their investments. The ministry is also collaborating with other government agencies to address security challenges in the solid mineral sector. The government is determined to increase the contribution of the solid minerals sector to Nigeria's GDP and is aggressively marketing the country's critical minerals to attract major investors. The use of satellite technology is part of the government's efforts to diversify the economy and reduce dependence on oil. [7e295cdd]

The Minister of Solid Minerals Development, Dr Dele Alake, has commended President Bola Ahmed Tinubu for supporting reforms in the solid minerals sector. The National Gold Purchase programme will increase the country's reserve and boost the naira's value. The first commercial transaction under the National Gold Purchase Program (NGPP) was completed, delivering a +US$5 million increase in Nigeria's foreign reserves assets and injecting about NGN6 billion into the rural economy. President Tinubu commended the Ministry for achieving a major milestone in the administration's drive to diversify the economy. [0b804149]

Nigeria's Minister of Solid Minerals Development, Dele Alake, has announced the country's first gold commercial transaction under the National Gold Purchase Program (NGPP). The transaction involved artisanal and small-scale miners and resulted in a substantial increase of over $5 million in Nigeria's foreign reserves assets. The refined gold will be sold to the Central Bank of Nigeria (CBN), enhancing foreign reserves. The transaction also injected around NGN6 billion into the rural economy. President Bola Tinubu endorsed critical reforms in Nigeria's solid minerals sector, including the NGPP, which aims to boost the country's reserves and strengthen the naira. The event marks a pivotal step towards leveraging Nigeria's natural resources for economic growth. [ea8fb1b6]

In Sanniquellie, a town in Nimba County, Liberia, more women are turning to sand mining as a means of survival due to the harsh economy and lack of alternative sources of income [f30b8eb7]. Many of these women, who are mostly single mothers, have resorted to sand mining to generate enough money to feed themselves and their families for the day [f30b8eb7]. They work together to load a pickup truck with sand and sell it for L$1,300 (US$6.72) [f30b8eb7]. The income from the sale of the sand is used to cover expenses and make payments to the mine owner and those who help load the sand [f30b8eb7]. However, the women hope to receive assistance from the government or philanthropists to start their own businesses and leave the sand mining work [f30b8eb7]. Sand mining in the area is managed by Joe Morris, who has seen an increase in the number of women and children involved in the activity [f30b8eb7].

The harsh economy and lack of alternative sources of income have driven more women in Sanniquellie, Nimba County, Liberia, to turn to sand mining as a means of survival [f30b8eb7]. These women, many of whom are single mothers, work together to load a pickup truck with sand and sell it for L$1,300 (US$6.72) [f30b8eb7]. The income generated from the sale of the sand is used to cover expenses and make payments to the mine owner and those who help load the sand [f30b8eb7]. However, the women are hopeful that they will receive assistance from the government or philanthropists to start their own businesses and move away from sand mining [f30b8eb7]. Joe Morris, the manager of the sand mining operation in the area, has observed an increase in the number of women and children participating in the activity [f30b8eb7].

Sand scarcity is becoming a global economic and social conundrum demanding urgent solutions. Sand is a key player in global politics, fueling a shadow economy and igniting geopolitical tensions. It has become a strategic asset in the global marketplace, with the U.S., Netherlands, and Germany as key exporters and China and India as major importers. The scarcity of sand presents a critical challenge for future studies, emphasizing the need for sustainable resource management and innovation. Sand also plays a crucial role in chip technology and artificial intelligence, with silicon derived from sand being the backbone of semiconductors. Malaysia, a net exporter of sand primarily to Singapore, faces environmental concerns and the need for sustainable management practices [1aaf77e0].

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