Impact of Mining Companies on Africa Mining Giants Leave Communities in the Dust – Shocking Report Unveils Their Massive Impact on Africa

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When it comes to mining in Africa, the local communities hold the key to the treasure chest. Without their consent, mining companies are digging themselves into a deep, dark pit with no way out. This is the sobering message from a recent report that has turned the mining industry upside down.

The report’s methodology involved diving deep into the latest available Extractive Industries Transparency Initiative (EITI) reports for member African countries, as well as sniffing out information from company reports for non-member states, including South Africa, Morocco, and Botswana.

The economic impact was scrutinized, sliced, and diced into three categories: budgetary contributions, social contributions, and employment of nationals. The rankings have blown the lid off the top 30 companies, exposing $15 billion showered in fiscal and social contributions, along with the creation of 250,000 direct jobs.

Leading the charge are Africa’s mining behemoths, who have staked their claim at the summit based on the magnitude of their financial contributions and the sheer number of employees required to operate their assets. Anglo American, Glencore, Barrick Gold Corp, OCP, First Quantum Minerals, Sibanye Stillwater, and Anglogold Ashanti are just a few names that headline the Top 30.

Top ten mining companies with the biggest impacts in Africa:

Africa ranking
Source: EY and Africa Business

In a surprising twist, South African groups are pulling the strings, accounting for a whopping 45% of the contributions to the Top 30. On the other hand, Chinese companies have struck gold on a much smaller scale, failing to make the cut into the Top 10. The few Chinese groups navigating the Copperbelt include CMOC, CNMC, and MMG (majority-owned by China Minmetals).

“This first-ever ranking of mining companies according to their economic impact will make it easier to understand the orders of magnitude of the local contribution made by mining investors and to compare them with each other”, exclaimed Moez Ajmi, partner at EY.

Ready to delve into the full report? Find it here.

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