- Sputnik International, 1920
Africa
Get the latest Africa news from Sputnik: breaking news, photos, videos, analysis, and features.

Russia's Rosgeologia Forecasts Record Volumes of Geological Prospecting in Africa

© Sputnik / Александр Кряжев / Go to the mediabankEEF-2022. The work of the stand of the media group "Russia Today"
EEF-2022. The work of the stand of the media group Russia Today - Sputnik International, 1920, 02.03.2023
Subscribe
Africa contains about 30% of the world's mineral reserves, 8% of the world's natural gas reserves, and 12% of global oil reserves. The continent also contains 40% of the world's gold and up to 90% of chromium and platinum. The largest reserves of cobalt, diamonds, platinum, and uranium are in Africa, according to the UN Environment Program.
Russia's state geological explorer Rosgeologia predicts that the number of solid mineral exploration projects in Africa will double in 2023, the company's chief executive, Sergey Gorkov, told the media.
In particular, Rosgeologia is proceeding to the second stage of a gold exploration project in Sudan in 2023. Two more solid mineral projects are being implemented in Benin and the Central African Republic.
Sudan is now the largest Rosgeologia project in Africa in terms of revenue, Gorkov stated.

"There are good results there, now we will work out the field season [mass work of geological researchers in the fields]," Gorkov said. "Despite all the difficulties, everything is on schedule, and even colleagues pay on time."

According to Rosgeologia's CEO, negotiations are underway with Algeria (the signing of a firm contract is expected in May), as well as with Angola, Sierra Leone, Zimbabwe, Morocco, and Mozambique. The state holding plans to sign project agreements with the latter two countries by the middle of this year.
Africa has some of the greatest raw material potential in the world and remains undervalued from this point of view, independent industry expert Mikhail Leskov said, as cited by media.
According to Leskov, given the rising economic independence of the countries on the continent, Russia's opportunities for cooperation with them are increasing.
On March 1, 1896, Ethiopian forces commanded by Emperor Menelik II defeated the Italian army at the Battle of Adwa - Sputnik International, 1920, 01.03.2023
Africa
Battle of Adwa: Victory Over 'European Supremacy' Not Only For Ethiopia, But Also For All of Africa
Sergey Grishunin, managing director of the National Rating Agency (NRA), thinks that Africa is insufficiently studied, so, according to him, its geological potential is huge.
In addition, as the expert notes, there is "fatigue of the African authorities from Western geologists," who traditionally do not fully disclose the results of the work carried out.

"This allows global majors to gain access to high-quality deposits at an undervalued cost," the rating service managing director stated.

Moreover, the availability of their own resources, according to Grishunin, is becoming "critically important" for African countries, as this will allow them to pay for technology and equipment.
Russia's Rosgeologia state holding is expected to have up to 10 projects in Africa in 2023, compared with four to five last year. The company’s CEO, Sergey Gorkov, stressed that this number of projects is set to be implemented for "the first time in history since the Soviet period."
Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала