Minor metals will shape the future of mining

Mining will continue to see growth in years to come but the mineral and metal profile is going to change significantly, according to Lara Smith, managing director of Core Consultants. “There is an increasing trend in the world towards portability and miniaturisation while there is also a far greater move towards the preservation of energy and the environment.” Rather than the bulk commodities like iron-ore and coal – or precious metals such as diamonds and gold – it will be the lesser-known components in smart phones, tablets and mobile computers that will become the driving force of the mining industry. “An 11% compound growth is expected over the next three years in the smart phone industry. To make a standard smart phone at least 13 minor metals are required.” A standard computer chip is estimated to require up to 60 different metals. A scarcity in any of these commodities and modern life as we know it is threatened. It is the likes of rhenium, rhodium, lanthanum, europium, dysprosium, thulium, ytterbium, yttrium, strontium and thallium that will dominate the market – all components of a smart phone. Smith said Africa, with its high reserves of minerals and metals, was well placed to continue to dominate the mining sector.