ENERGY
In just a few short years, energy has shifted from being largely an operational utility issue to becoming a strategic business risk - and increasingly, a powerful growth enabler - for the mining sector. SLR Consulting says energy transition opens strategic opportunities for miners
Energy is rapidly becoming both a strategic risk and growth enabler for the mining sector.
A ccording to SLR Consulting Managing shift is being driven by a convergence of economic, technological and regulatory pressures, alongside mining’s growing importance within the broader energy transition value chain. “Energy is certainly up there as a key business risk; it is highly material in the cost stack of new projects, in terms of both capital and operational expenditure,” Graham says. “At the same time, it is increasingly a growth enabler - capable of reducing costs and advancing strategic sustainability goals.” Director Tasman Graham, mining companies across Africa and globally are fundamentally rethinking how they approach energy. This He explains that leading mining companies are looking beyond basic power security - ensuring plants, haul trucks and mining systems remain operational - and are increasingly recognising the opportunities the energy transition presents to unlock value and strengthen resilience. A key driver of this transformation is the changing economics of energy. Renewable
technologies, particularly solar and onshore wind, have reached a point where they are often the lowest-cost sources of new power generation. “As a total system solution, renewable energy supported by storage is now the least-cost option in many contexts,” Graham notes. “That is true even without factoring in climate policy; economics alone is a powerful driver of the transition.” For mining, this has profound implications. As demand rises for copper, lithium and other critical minerals, the sector is becoming an increasingly integral part of the global energy value chain, while also accelerating the electrification of its own operations. In Africa, however, the energy challenge is particularly acute. Mines must contend with unreliable grids, escalating electricity tariffs and growing pressure to decarbonise operations. This requires a careful balancing of short-term operational security with long-term sustainability objectives. “The energy trilemma - affordability, reliability and sustainability - still applies,” Graham says.
SLR Consulting Managing Director Tasman Graham.
36 MODERN MINING www.modernminingmagazine.co.za | SEPTEMBER 2026
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