AMN - SOUTH AFRICA: Vanadium can boost mining

South Africa's government is intent on promoting the image of the country’s mining sector as that of a ‘sunrise industry’ despite years of falling production, strikes and upheaval. But for a new dawn, new deposits will be needed, and luckily for South Africa’s still vast industry, surveys have been promising.

Over the years, the South African mining industry has been in a state of decline. Policy and regulatory uncertainty, labour disputes and climate concerns have all contributed to an overall inhospitable environment, and statistics from the Minerals Council South Africa show that in 2017, South Africa accounted for a ‘dismal’ 1% of total global exploration expenditure, as compared to 14% for Canada, 14% for Australia, and 13% for the rest of Africa.

Despite such unfriendly terrain, there is still a chance for the country’s resources sector to spring back, with gains in commodity prices this year bringing the industry back into profitability.

Minerals Council SA says South African mining investment could almost double in the next four years, provided the country returns to the top quartiles of the most attractive mining investment destinations.

To achieve this, exploration in the country needs to see a resurgence, and turning attention to new materials, including vanadium, could be the way forward.

GlobalData’s mining technology writer Scarlett Evans looks at the opportunities for South Africa.

Evans says: “Revitalising South Africa’s mining industry would not be hindered by a lack of resources.

"Estimates from the US Geological Survey and Council for GeoScience show large amounts of minerals still lie within South African land.

"Mining production is beginning to stabilise in the country, rising 2.4% from a year ago, and predominantly driven by iron ore’s production rise of 23.7%. Coal (the biggest contributor to total mining) rose 8.6%, and platinum-group metals rose 2.7%.

“It is not only in traditional metals that the country’s resources sector has potential. It also plays host to deposits of minerals that are becoming increasingly important to meet new technological demands.

"These include rare earths, heavy minerals and industrial minerals. Taking advantage of these newly popular materials is a clear development opportunity for industry members.

“Vanadium, which is used in the manufacture of hard and strong lightweight alloys, and also in the manufacture of superconductive magnets, appears likely to boost the mining industry,” she said.

VM Investments\Bushveld Minerals technical advisor Dr Richard Viljoen said: “South Africa has, in the world-famous Bushveld complex 50% of the world’s vanadium resource.

“As a consequence of the growing demand, the exploration for and mining of vanadium is expanding in the same way as platinum and chromium mining did several decades ago.

"The Bushveld also contains significant amounts of tin, tantalum fluorite and other rare metals including lithium.”

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