The market for Africa sodium cyanide is expected to grow at a CAGR of 4.38% during the forecast period of 2019

– 2024. Major factors driving the market studied are the increasing demand from the mining industry. toxicity of sodium cyanide is expected to hinder the growth of the market studied. - By end-user industry, the mining industry accounted for the largest share, with about 85% of the total volume of the market studied in 2018.


New York, Oct. 17, 2019 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Africa Sodium Cyanide Market - Growth, Trends, and Forecast (2019 - 2024)" - https://www.reportlinker.com/p05821473/?utm_source=GNW

- South Africa dominated the market studied with about 20% of the total volume of the market studied in 2018.

Key Market Trends
Increasing Demand from Mining Industry

- A major portion of the sodium cyanide produced worldwide is used in mining and metallurgy, especially in extracting gold and silver. It is one of the most economically viable, easily processable, and environmentally sustainable technologies for gold processing.
- Typically, gold is extracted from its ore using sodium cyanide through leeching. In this process, the ore is crushed into a fine powder using industrial machinery. Then, the dust is added to a solution of sodium cyanide (NaCN) and allowed to process.
- During the process, the gold molecules form very strong bonds with the NaCN, becoming water-soluble. The application of zinc separates the cyanide molecules from the gold and turns the gold back into solid, preparing it for the smelting process.
- Africa has an abundance of mineral sources, which makes it a hub for the global mining industry. Apart from South Africa, which has a major mining industry, countries, like Ghana, Mali, and Burkina Faso, have rapidly growing mining industries.
- West Africa is a hot spot for gold exploration and has attracted major investments from companies across the world, over the past few years, owing to the largely untouched mineral reserves present in the region. There has been a major growth in the gold assets in West Africa, with around 367 assets in the exploration stage, 24 assets under economic assessment, and 61 assets in production or construction stage.
- In 2018, the Africa gold mine production was valued at 706.6 metric ton, according to the World Gold Council.
- Hence, owing to the aforementioned factors, the application of sodium cyanide in mining and metallurgy is likely to grow during the forecast period.

South Africa to Dominate the Market

- South Africa has witnessed a huge economic slump over the past decade. One of the key reasons for the slump is the maturity of the mining sector in the country.
- South Africa was the world’s leading gold producer until 2007. However, the production has declined significantly since then, due to the stagnation of the country’s mining industry.
- The annual gold mining production volume in 2018 was 132.2 metric ton, which is 14% lower than the gold production in 2017. Currently, South Africa is the second-largest gold producer in Africa, and it accounted for around 4.2% of the global gold production.
- The gold sales also declined by around 15%, from ZAR 82.7 billion in 2017 to ZAR 69.9 in 2018.
- Some of the major gold mines in the country include the South Deep gold mine, Kromdraai gold mine, Mponeng gold mine, East Rand gold mine, and Tautona gold mine, among others.
- The South African chemical industry is majorly an upstream sector for the country’s mining and agricultural sectors. It is also one of the major chemical industries in Africa. As the country has significant raw material sources, growth in foreign investment may create major growth opportunities in the country’s chemical sector, in the coming years.
- The agricultural sector of the country had been witnessing severe challenges over the past few years. Prevailing draught and declining farming profitability have been the major restraining factors for the growth of the agricultural industry in the country.
- Hence, the above-mentioned trends in the end-user industries are likely to affect the sodium cyanide market in South Africa.

Competitive Landscape
The African sodium cyanide market is majorly consolidated in nature with the top four players accounting for a significant share, in terms of production capacities. Major players in the market include Taekwang Industry Co. Ltd, Tongsuh Petrochemical, Sasol, and Orica Limited, among others.

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