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An insight into platinum mining

Processing platinum ore into metallic powder is a highly complex task

It requires a huge amount of machinery and energy, and efficiency improvements can result in significant cost savings. Tim Probert visits the recently commissioned Mogalakwena North platinum mine in South Africa to find out how Anglo American has improved output at the largest single stream platinum concentrator in the world.

Platreef ore is tough stuff. Very hard and variable. If it was not the largest source of platinum group metals (PGM) in the world, it would perhaps be better left alone.

The Platreef is part of northern South Africa’s Bushveld Complex, which also contains the Merensky Reef and the Upper Group 2 Reef. Unlike the other reefs, which are narrow, usually less than one metre thick and mined underground, open-pit methods are used to mine the Platreef, which varies between five and 90 m in thickness.Picture_2_of_the_Mogalakwena_Mine_in_Limpopo_province_South_Africa._Copyright_ABB._Feed_silo_and_conveyor_belt

Anglo Platinum has been mining platinum at Mogalakwena, formerly named Potgietersrust, since 1993. Mining Platreef platinum ore at Mogalakwena, 320 km north of Johannesburg, is easy. Daily blasts at the open-cast mine break open the Platreef to extract the ore. Then the hard work of processing this metres-thick rock into millimetres-thin metallic powder begins.

Most of the work is performed at a concentrator, usually sited adjacent to a platinum mine. Concentrating reduces the volume of ore requiring expensive pyrometallurgical processes at the smelters and refineries to separate the individual metals. In order to concentrate the material, the platinum ore is by turn crushed, milled and then chemically treated to separate the precious metals from dust and other waste products.

Other precious metals like gold, copper and nickel talk about concentration in ores in percentages, but for platinum it is in parts per million.  Furthermore, the concentration of platinum, or head grade, in Platreef ore is significantly lower than other South African reefs; it varies anywhere between 2.2 and 3.5 grammes/tonne, compared to the five grammes/tonne typical of the Marensky reef near Rustenburg. Based on a typical conversion rate of 25 per cent, it requires a staggering 40 tonnes of Platreef ore to produce just one ounce of platinum.

New pit and concentrator
In 2006, with the original Sandsloot pit approaching the end of its life, Anglo American, owners of Anglo Platinum, decided to invest in a new pit and concentrator, named Mogalakwena North. Anglo Platinum designed the concentrator to be the world’s largest single stream platinum concentrator, with an ore processing capacity of 600,000 tonnes per month.

In order to achieve such a high capacity with a high-risk, single stream plant, ie all the ore undergoes primary milling and then secondary milling in sequence, Anglo Platinum required some ground-breaking technology. Having suffered throughput problems due to the extreme hardness and variable quality of Platreef ore, Anglo Platinum explored methods to improve its platinum recovery rate and operational efficiency with the new facility at Mogalakwena North.

Picture_3_of_the_Mogalakwena_Mine_Copyright_ABB._Platinum_ore_is_conveyed_from_the_feed_silos_to_the_primary_crusherUltimately, Anglo Platinum decided against the traditional four-stage crushing process used at its other concentrators and instead took the bold decision to replace the third and fourth crushing stages with a high pressure grinding roll (HPGR) crusher. Usually the preserve of copper mining, this was the first time that an HPGR crusher had ever been utilised in platinum mining.

Anglo Platinum claims several other firsts for Mogalakwena North, which was commissioned in 2009. The plant is running between 900 and 1,000 tonnes of ore per hour into the mill, a world best for platinum, according to section engineering manager Natalie Fourie. Mogalakwena North also has the biggest primary gyratory crusher in the world, weighing 480 tonnes with an 18 m diameter and 1 MW motor.

The concentrator also sees the first use by Anglo Platinum of gearless mill drives (GMD), in this instance made by Swiss engineering firm ABB. The drives are powered by a 17.5 MW motor, five times a similarly-sized throughput mill, says Fourie.

At a diameter of eight metres, Mogalakwena North’s GMDs were the largest installed in the world, but they have since been superseded by a 12 m diameter drive in Australia. Mogalakwena North also has the biggest single stream centrifugal blower installation in Africa and the biggest mill discharge pumps in South Africa.

Concentrating process
The freshly-blasted rock is loaded by gigantic hydraulic shovels, again the world’s largest, onto trucks for transport to the primary crusher. All material tipped directly from the trucks into the primary crusher has to be smaller than one square metre. Material from the primary crusher goes through secondary crushing until it is less than 65 mm thick.

From there the ore goes through tertiary crushing via the aforementioned HPGR crusher supplied by ThyssenKrupp Polysius. Unlike normal jaw crushers that strike the rock or cone crushers which rotate, HPGRs utilise two, 100 tonne rolls adorned with studs 25 mm in diameter and 35 mm in length.Picture_of_a_concentrator_at_the_Mogalakwena_Mine_in_Limpopo_province_South_Africa._Primary_mill._Copyright_ABB

The rolls, each powered by a 2.8 MW motor, turn at 20 rpm, with one fixed in position while the other moves horizontally to adjust the gap. The crushing force is exerted hydraulically on the moving roll, with pressurised nitrogen acting as a spring. The initial gap is set to accept the largest particle size in the feed and thereafter the pressure is adjusted hydraulically to maintain interparticle crushing in the area between the rolls.

Fourie said the HPGR is working extremely well. “It gives a very fine product that gives us a lot more flexibility in milling,” she said. “A normal tertiary crusher would not be able to reduce the size of the ore to just eight millimetres.”

Fourie said the novel usage of an HPGR crusher for platinum concentrating has not been without problems. “The HPGR is a highly sophisticated machine that has a great deal of interlocks. When it decides not to play nicely, I have sleepless nights. If the rolls are not exactly parallel or the pressures are not exactly equal, the machine will simply refuse to start up.”

Due to various problems at Mogolakwena North, including frequent ore conveyor belt breakdowns, problems with the GMDs and HPGR crusher, it has taken Anglo Platinum nearly three years to achieve the plant’s stated throughput capacity of 600,000 tonnes per month.

“Few engineers contracted to work with Amplats have experience of GMDs or HPGRs. But if I have a problem with a conveyor belt, I can call 20 people,” said Fourie. “If we have a problem with an HPGR, I have to get hold of the original equipment manufacturer (OEM). As this is the first utilisation of HPGRs with hard rock mining, the OEM is also going through a learning process. It’s a lesson learned for the whole of Anglo American. We now get visitors from Anglo American engineers from around the world to learn how to use an HPGR.”

From the HPGR crusher, the platinum slurry is fed to the GMD, in which steel balls grind the material. The primary milling grind is rated at 55 per cent at <75 microns; the secondary grind is rated at 80 per cent at <75 microns. Grinding the material in this way exposes the platinum and other precious metals so they can react with the reagents in the flotation chamber and disperse into individual materials.

Fourie said the GMD, used for the first time by Anglo Platinum, has been a success. “The flexibility cannot be underestimated,” she said. “As it has fewer mechanical moving parts the mill can be slowed down and sped up like a dimmer switch. It’s proven to be more reliable than standalone motors.”

Crushers_ogalakwenaAgain, however, utilising novel technology has not been without problems. “At the whiff of moisture the motor trips to avoid catastrophic failure,” said Fourie. “We’ve had to make modifications to the outside of the GMD in order to enable exterior washing and reduce the likelihood of slurry clogging.”

After milling, the slurry is then placed in flotation cells for separating via reagents and hot air, while the waste material falls into a trough, ready for disposal.  The valuable concentrate is thickened and then filtered at high pressure to remove water.

Before being transported to Anglo Platinum’s smelter in Polokwane 65 km away, the fine powder is finally put through an IsaMill, which grinds the material to less than 75 microns. By now the ‘finished’ powder has a concentration of 60 grammes/tonne, compared to the three grammes/tonne contained in the freshly-blasted ore.

Mogalakwena North produces 11,000 to 12,000 ounces of platinum per month. Platinum accounts for around 50 per cent of Mogalakwena North’s total output, with palladium accounting for 40 per cent and 10 per cent for all other minerals, including gold, copper, rhodium, ruthenium, iridium, nickel and cobalt.

Power supply problems
It is estimated the HPGR provides Anglo Platinum with an energy saving of 15-20 per cent versus four-stage conventional crushing. When Mogalakwena North alone consumes a colossal 33,000 MWh of electricity per month, this is no small amount.

Fourie said the mine’s power supplies can be highly unstable. South Africa’s state power utility Eskom is contracted to supply 11 kV, but this can occasionally drop to 10.8 kV or increase to 11.2 kV. As concentrators become ever more highly automated, the plant’s equipment is sensitive to fluctuations in power voltage and more likely to trip.

Until it installed voltage ride-through technology that allows the GMDs, which are particularly sensitive to changes in power quality, to keep rotating until they catch up with the power supply, Mogalakwena North suffered six to eight trips per month. Some are unavoidable when the voltage dips too low for the concentrator to keep operating, said Fourie, but it now suffers just two trips per month on average.

In 2008 South Africa was struck by a near two-week blackout, affecting platinum production at Mogalakwena for several days.  Anglo Platinum, which operates 11 mines and nine concentrators in South Africa, had to shut down a number of concentrators in order to give priority to its smelters, which are not easily shut down and restarted. Since 2008 blackouts have not occurred, but Anglo Platinum continues to hold weekly meetings with Eskom to discuss potential power supply problems.

Anglo Platinum has a contract where Eskom must give notice of power outages that may affect platinum production, with financial penalties for failure. Should Eskom reduce Anglo Platinum’s power to 75 per cent of load or lower, it must choose whether to reduce capacity at its concentrators or shut operations completely at designated units. However, because Mogalakwena is an open-cast mine and not as energy-intensive as underground mining, it is able to keep running through power outages unlike others.

Anglo Platinum also has a rolling five-year infrastructure and electricity plan with Eskom, which sets out its future power demand. The miner has to keep within 10 per cent of the agreed demand and so far, says Fourie, the two companies have been aligned in terms of power supply and demand.Picture_of_the_Mogalakwena_Mine_in_Limpopo_province_South_Africa._Copyright_ABB._Stockpile_feed_silo_and_conveyors

Rising input costs
Eskom is to increase electricity prices by 27 per cent in 2012, having imposed a 25 per cent hike the previous year. Having signed an unfavourable deal with BHP Billiton, Eskom is wary of entering into long-term power contracts and Anglo Platinum will be subject to Eskom’s programme of significant price rises in the coming years.

Steel costs have also risen 17 per cent year on year. Fourie said Anglo Platinum will endeavour to stay on a flat unit cost for three years, so it is under considerable pressure to cut costs in other areas.

Yet the input cost rises are making Anglo Platinum more efficient, she said. “You’d think it would be impossible to cope with these increases, but we are managing. We have streamlined our buying to a just-in-time process to reduce warehousing. We have also increased our maintenance intervals where possible in order to reduce contracting costs. We’ve also reduced the volume of reagents used in the flotation process.”

Anglo Platinum plans to produce platinum at the site for at least another 60 years. Eventually the mine’s three pits will all join up. Once this is complete, scheduled for 2020, Mogalakwena will be the largest man-made excavation in the world. Mogalakwena appears to be the jewel in Anglo Platinum’s crown, despite the hardness of Platreef ore.

Tim Probert

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Grid List

Power plant in the desert (Image source: Himoinsa)

Energy

How a hybrid off-grid power system combined diesel generation and battery energy storage to deliver reliable electricity in a demanding, remote environment for a high-profile motorsport event in the Sahara

Himoinsa deployed a hybrid power system combining diesel generators and battery energy storage to supply up to 1 MW of power at the 2026 Rallye du Maroc, demonstrating an approach to managing variable electricity demand in remote, off-grid environments.

As Official Power Supplier to the rally, the company provided more than 20 pieces of power and lighting equipment to support temporary bivouacs in Agadir and Zagora, Morocco.

The installations supplied electricity for vehicle maintenance, communications, medical facilities, catering and race administration, operating in conditions characterised by heat, dust and limited access to infrastructure.

According to David Serieys, Himoinsa's event coordinator, the main technical challenge was designing an off-grid system capable of adapting to changing loads while operating continuously in remote locations.

“What made this project technically demanding was not just its size – although we deployed more than 20 units and made up to 1 MW of power available,” he said.

“The real challenge was designing an off-grid system capable of adapting to very different loads – while operating continuously in heat, dust and remote locations.”

The hybrid configuration combined generators, which provided sustained power and reserve capacity, with battery storage systems designed to respond to short-duration demand peaks and supply electricity during periods of lower consumption.

This approach also allowed generators to remain switched off when demand was limited, reducing unnecessary engine running hours.

“The generators provide the sustained power and reserve capacity the bivouac needs, while the batteries respond immediately to load variations, cover low-demand periods and reduce unnecessary engine running hours,” said Serieys.

Himoinsa's EHR battery energy storage technology is designed to store energy and supply electricity when required.

The EHR 45/60 model has a nominal power rating of 45 kVA and a nominal battery capacity of 56.8 kWh, using lithium iron phosphate (LFP) battery technology.When appropriately configured, combining battery storage with diesel generation can reduce fuel consumption, engine operating hours, maintenance requirements and noise compared with generator-only operation, the company said.

The deployment also included mobile lighting towers to support overnight vehicle repairs and maintenance, with more than 20 personnel involved in the operation.

“The lighting towers were equally important,” added Serieys.

“Once the competitors arrived, the service areas remained active throughout the night, with mechanics carrying out repairs and preparing the vehicles for the next stage. We needed mobile, autonomous lighting units that could be transported and repositioned quickly, withstand the desert environment and provide safe, reliable illumination.”

While the rally provided a demanding temporary application, the same hybrid power approach can be used in other settings where grid electricity is unavailable or inadequate, according to Himoinsa.

Construction projects, mining operations, rental power and critical infrastructure are among the potential applications, it says, where matching generation to actual demand can help improve operational efficiency.

Volvo CE expands excavator range with EC130 and EC150. (Image source: Volvo CE)

Construction

Volvo Construction Equipment (Volvo CE) has expanded its crawler excavator portfolio with the launch of the EC130 and EC150 across Africa, the Middle East and Oceania

The new models are designed to help operators improve fuel economy while maintaining productivity, combining positive control hydraulics, intelligent operating modes and fuel-saving functions with the performance and versatility needed for varied jobsite requirements.

Both excavators feature strong digging capabilities, rapid cycle times and simplified maintenance. Their operator-focused design includes an integrated 8-inch Volvo Co-Pilot touchscreen display, bringing key machine functions together in an accessible interface.

“The 13-tonne EC130 and the larger EC150 have been designed around what matters most to our customers — productivity, efficiency, uptime and operator performance,” said Steven Guo, product manager at Volvo CE.

“The result is two machines that make every drop of fuel count while delivering dependable performance, operator comfort and low operating costs,” he adds.

Fuel-saving technology and intelligent hydraulics

Fuel efficiency is central to the design of both models. Volvo's positive control hydraulic system works with the main control valve to supply hydraulic flow according to operating demand. This helps maintain digging power and productivity while limiting unnecessary fuel consumption.

The engine and hydraulic pumps are optimised to match machine output with workload. The EC130 can run at engine speeds as low as 2,000rpm, while the EC150 operates at speeds as low as 2,200rpm. Hydraulic pump flow and pressure adjust continuously to suit changing load and speed requirements. On the EC130, a larger pump than that fitted to the previous generation further supports hydraulic efficiency.

Operators can select from ten work modes to adapt machine response, fuel use and cycle times to specific tasks and site conditions. Automatic engine shut-down and auto-idle functions provide additional opportunities to reduce fuel consumption when full engine output is unnecessary.

Together, these systems are intended to help contractors manage operating expenses while retaining the performance required for demanding excavation work.

Versatility for demanding jobsites

The EC130 and EC150 are built to provide precise control, responsive operation and reliable digging power across a range of applications. The EC150 also accommodates a larger bucket than the previous EC140, allowing operators to handle greater volumes of material with each pass and potentially improve site productivity.

Attachment compatibility extends the machines' application range. Operators can manage attachment settings through a password-protected system on the in-cab display, where hydraulic flow can be configured and stored for up to 20 attachments. This allows frequently used settings to be recalled quickly, helping ensure consistent operation when switching between tasks.

Depending on the attachment and work requirements, operators can choose between one-pump and two-pump flow. X1 constant-flow functionality, including preset options, further supports operation with compatible hydraulic attachments.

These features allow the two excavators to be configured for different jobsite demands while maintaining efficient and controlled performance.

Maintenance designed to maximise uptime

Volvo CE has incorporated extended service intervals and accessible maintenance points into both models to reduce routine servicing demands and help keep equipment available for work.

Engine oil, engine oil filters and fuel filters have replacement intervals of 500 hours. Swing reduction gear oil and the hydraulic oil service filter are scheduled for replacement every 1,000 hours, while the hydraulic oil return filter has a 2,000-hour replacement interval.

Maintenance is further simplified through grouped filters, ground-level service points, quick-drain ports, a swing-out air-conditioning condenser and centralised greasing points. Anti-slip plates and brightly coloured handrails support three-point access to the upper structure from the right-hand side.

The machines also feature durable components, hydraulic hoses designed to minimise leakage and a high-efficiency air filter to protect the engine. These design measures aim to limit wear, reduce maintenance-related downtime and support reliable operation in demanding conditions.

Operator comfort and control

The EC130 and EC150 feature operator environments designed to support comfort, convenience and productivity throughout the working day.

An integrated 8-inch Volvo Co-Pilot touchscreen provides access to essential machine functions and operating settings through an intuitive menu system. This enables operators to adjust configurations to suit the task without navigating unnecessarily complicated controls.

Cab configurations include a choice of seats and joysticks to accommodate operator preferences. Additional features include storage compartments, phone connectivity through the cab display, cup holders, wireless phone charging and USB sockets.

By combining adjustable controls, accessible machine information and everyday convenience features, Volvo CE aims to create a working environment that helps operators remain focused and productive on site.

Real-time tyre data can boost mining operations (Image source: Michelin)

Mining

Amaury Vadon, Michelin’s vice-president for Africa, India and the Middle East, explores how real-time tyre data and predictive maintenance can help African mines reduce costs, improve safety and boost operational efficiency

Mining operations across Africa are under increasing pressure to do more with less. Rising input costs, constrained capital investment, ageing fleets, and increasing ESG expectations are forcing operators to rethink how they optimise productivity while maintaining safety standards. In this environment, incremental gains in efficiency are no longer enough — mines need smarter, data-driven approaches that enable real-time decision-making and operational resilience.

This is where Michelin Better Mining is positioned as a strategic partner, helping operations unlock safer, more productive, and more sustainable performance through integrated tyre, data, and operational solutions.

Michelin Better Mining is not a single product or technology. It is Michelin’s comprehensive approach to partnering with mining operations across Africa to deliver measurable outcomes. The approach is anchored on three core pillars. Safety focuses on reducing operational risks and preventing incidents before they occur. Productivity centres on maximising asset performance and uptime across haulage fleets that drive 50%+ of operating costs. Sustainability targets lower environmental impact while supporting long-term value creation through energy-efficient technologies and responsible lifecycle management. Together these pillars form a holistic partnership that combines Michelin’s products, services, data, and expertise to solve systemic challenges African mines face today.

At the core of that partnership for African operations is MICHELIN MEMS 4. As the fourth generation of the first tyre monitoring system built specifically for surface mining equipment, MEMS 4 delivers what decision-makers need most: real-time intelligence. Unlike basic alerts, MEMS 4 continuously tracks tyre temperature, pressure and GPS location, and stores a full history for each tyre. That history is critical because tyre wear and failure rarely happen in isolation. Patterns emerge over weeks and months, and MEMS 4 makes those patterns visible before they become costly downtime.

Heat is what kills these tyres. With MEMS 4, you can see which trucks are running hot and reroute them before you lose a tyre. For African mines running remote 24/7 fleets, that means less downtime and tyres that last longer.

MEMS 4 is supported by Michelin’s Better Haul Road solution, which turns tyres into sensors to measure road undulation and truck cornering severity. For African mines managing vast haul networks with aging infrastructure, that data identifies where roads are rough, where trucks corner too hard, and where drivers need coaching. Teams can then adjust grading schedules and smooth problem sections. The result is lower diesel burn, fewer tyre replacements, and safer roads — direct contributions to both productivity and sustainability outcomes.

Michelin brings best-in-class capabilities to support all three pillars of Better Mining. On safety, solutions include TK Solution, Klinge, in-depth scrap tyre analysis, and continuous product innovation designed to reduce operational risks. On productivity, the portfolio includes the X MINE 70/70 tyre launched in 2023 for increased tramming speed and load capacity, Customer Engineering Support teams providing deep local mining expertise, MICHELIN MEMS 4 for real-time tyre monitoring, and Better Haul Road for road condition optimisation. On sustainability, Michelin delivers energy-efficient tyre technologies, end-of-life tyre solutions, and initiatives supporting environmental impact reduction and social development.

The strategic value of this partnership becomes clearest at scale. Valterra Platinum’s Flatreef project, one of the world’s largest platinum, palladium and rhodium deposits, demonstrates how small efficiency gains compound across a large fleet. Even a 1-2% improvement in haulage efficiency or a 10% extension in tyre life translates to millions saved per year. In Michelin’s “Inside the Mine” feature, Valterra’s crew showed how MEMS 4 data keeps 24/7 operations running with fewer interruptions. Dispatchers see which trucks need attention before they fail. Maintenance teams plan work around production schedules. Managers have data combined with Michelin’s expertise to back decisions.

For African operations facing rising costs and ESG pressure, Better Mining provides the operational control needed to stay competitive. For mines looking to get more from what they already have, it’s not about redesigning the pit. It’s about making smarter decisions with real-time data and shifting maintenance from reactive to predictive. Those small gains per truck add up fast across a fleet. Michelin Better Mining delivers that shift by acting as a strategic partner, not a supplier — bringing integrated tyre, data and operational solutions that make African mining safer, more productive, and more sustainable.

Expansion expected to reduce vessel turnaround times by up to 50% and enable simultaneous handling of two Post-Panamax vessels. (Image source: DP World)

Logistics

Since beginning operations in 2021, DP World has invested more than US$260mn in upgrading and modernising its terminal at the Port of Luanda

Over the past five years, annual container throughput has nearly doubled, rising from 177,000 twenty-foot equivalent units (TEUs) to more than 350,000 TEUs. This growth has been supported by an additional 28,000m² of yard space.

To strengthen its handling capacity, DP World acquired two additional Mobile Harbour Cranes (MHCs) and an extra empty handler this year, increasing its fleet to eight MHCs. The terminal has also expanded its refrigerated container connections, increasing reefer plugs from 630 to 700.

During the inauguration of its new terminal building at the Port of Luanda, DP World announced a further US$90mn investment over the next two years. The funding will support additional infrastructure, equipment and operational improvements. Planned works include extending the quay by 222 metres and expanding the operating area by 10 hectares, raising the terminal’s design capacity to 1.2 million TEUs.

The expansion will also involve the acquisition of three Ship-to-Shore (STS) cranes and 12 semi-automated rubber-tyred gantry (RTG) cranes. These additions will enable the terminal to handle two Post-Panamax vessels simultaneously, strengthening Luanda’s position as a container gateway for Central Africa and a major trade hub in sub-Saharan Africa.

The project is also expected to support local employment and industrialisation, enhance export competitiveness and encourage foreign investment, while facilitating more sustainable regional trade flows.

Mohammed Akoojee, CEO and managing director, Africa, DP World, said, “The expansion of DP World Luanda is an important milestone both for Angola and for the wider region. The ability to handle larger vessels will support new shipping services and strengthen the terminal’s potential as a gateway for West and Central Africa. Our investment will improve the efficiency and sustainability of trade flows, giving customers greater reliability, shorter turnaround times and improved access to global markets, and reinforcing Angola’s prominent role within our regional and global logistics network.”

Paco Pinzon, CEO, DP World Luanda, stated, “Having our concession extended to 2051 demonstrates our long-term commitment to Angola and its future as a leading regional trade gateway. Our continued investments will create a more efficient and competitive experience for our customers, while supporting Angola’s ambitions to strengthen trade connectivity, diversify the economy and become a continental logistics hub. The expansion will benefit the entire logistics ecosystem, and we will continue to create opportunities, strengthen regional connectivity and contribute to sustainable economic growth in Angola.”

Africa can still thrive amid global geopolitical upheaval (Image source: Adobe Stock)

Finance

Africa has an opportunity to convert geopolitical tensions and shifting global trade patterns into a catalyst for industrialisation and long-term economic resilience, according to a new Afreximbank report

Leveraging Geopolitics for Trade and Industrialisation in Global Africa examines trade and economic developments across the continent and globally, and outlines strategies for African nations to benefit from supply chain realignments and changing geopolitical dynamics.

“Africa stands at a critical juncture,” said Dr Yemi Kale, group chief economist and managing director of research and trade intelligence at Afreximbank.

“Geopolitical tensions and economic fragmentation are reshaping global trade patterns, but they also present a historic opportunity for the continent. By strategically leveraging these shifts, Africa can build a more resilient, competitive and inclusive economic future.”

Despite a challenging global backdrop, the report highlights Africa’s strong recent economic performance.

While global economic growth slowed to 3.4% in 2025 and is projected to ease further to 3.1% in 2026, Africa’s real GDP growth accelerated from 3.4% in 2024 to 4.5% in 2025, outperforming the global average.

Africa’s merchandise trade also expanded by 6.1% to approximately US$1.5 trillion, while aggregate inflation fell significantly from 21.6% in 2024 to 13.1% in 2025.

According to Afreximbank, these gains reflect improved macroeconomic management, ongoing policy reforms and the role of development finance institutions in supporting economic stability.

However, the report warns that significant structural challenges remain.

Africa’s trade finance gap is estimated at approximately US$74bn in 2025, limiting the continent’s ability to fully capitalise on trade and industrial opportunities.

The situation is compounded by foreign exchange constraints and a continued decline in correspondent banking relationships.

The report also notes that evolving shipping routes and persistent disruptions in global logistics networks are increasing freight costs and extending delivery times, particularly for economies dependent on imported inputs and external markets.

To strengthen resilience, Afreximbank identifies accelerated implementation of the African Continental Free Trade Area (AfCFTA), expansion of the Pan-African Payment and Settlement System (PAPSS) and reforms to the global financial architecture as key priorities.

The report notes that stronger industrial ecosystems, increased intra-African trade and sustained financial support will be critical if the continent is to transform geopolitical disruption into sustainable and inclusive economic growth.

“It is imperative for the continent to act decisively to strengthen regional value chains, deepen industrial capacity, expand access to trade finance, and accelerate continental integration,” said Kale, adding that Africa “cannot afford to delay.”

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Prometal SA to boost Cameroon steel sector (Image source: Adobe Stock)

Manufacturing

Cameroon is stepping up efforts to expand domestic manufacturing and reduce reliance on imported industrial goods, with steel processing playing a growing role in the country’s industrialisation drive

Rising demand from the construction, infrastructure and agricultural sectors is creating opportunities to develop more local value chains and increase the production of finished goods.

It is against this backdrop that Prometal SA is expanding its steel processing capacity, backed by €40mn in fresh financing from Afreximbank.

The funding comes from an African Export-Import Bank (Afreximbank) revolving working capital facility and will support processing and transforming semi-processed steel into a range of finished steel products, including agricultural equipment and construction materials.

Hayssam El Jammal, Prometal SA’s CEO, said it marked a new stage for the company’s growth plans.Jammal said the growth strategy combines “vertical integration across the value chain from the processing of raw materials to the production of finished goods…[to the]…horizontal expansion into new markets with the clear ambition of producing in Africa goods that are still largely imported today.”

This, in turn, would strengthen African production capacity, reduce dependence on imports and retain greater value within the continent.

African industrialisation

Jammal said the deal also reflects Afreximbank’s commitment to turning African industrial ambitions into reality “further contributing to the broader industrialisation and economic transformation of our continent.”

The facility is expected to the production of a wide range of finished steel products, including agricultural equipment and construction materials.

It will also boost Prometal SA’s capacity to meet growing demand for steel and metal products across the construction, infrastructure, industrial and agricultural sectors within Cameroon.

“By identifying and capacitating African industrial champions, like Prometal SA, the Bank is strengthening Africa’s domestic manufacturing capacity and creating domestic and regional value chains,” said Dr. George Elombi, Afreximbank’s president and chairman.

Growth plans

Prometal SA is a leading metallurgical and industrial group with a growing industrial footprint.

Over recent years, it has already implemented various investments aimed at developing local manufacturing capacity and replacing the import of products previously sourced from international markets.

The group is organized around two principal business lines: Prometal Acier and NOVIA Industries.

Prometal Acier is the group's core steel and metallurgical business and a key player in the regional steel industry with operations across seven industrial plants and an aggregate annual production capacity of approximately 360,000 metric tons of finished steel products.

NOVIA Industries, established in 2018, is the group's expansion into the agribusiness sector and has rapidly developed into one of the leading players in its market segment.

It has an estimated production capacity of 500 tons per day of edible oil and 160 tons per day of soap, positioning it as a significant producer of refined palm-oil products and related by-products.

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