A new way to meet the growing demand for minerals critical to electric vehicle, electronics and battery manufacturers could become commercially available within this decade. Significant public and private investment have gone into how to extract cobalt, nickel, lithium and other minerals from the deep seabed; however, more than 80 non-governmental organizations have voiced concerns about the dangers of commercial extraction.
While venues exist for countries, scientists, seabed mining industry and environmental organizations to discuss deep-sea mining, companies that use these kinds of minerals – the product manufactures and metal markets – previously did not have a place to learn about and discuss this topic. To create the space needed for this industry to come together, discuss and engage on this complex issue, the World Economic Forum has launched the Deep-Sea Minerals Dialogue.
The World Economic Forum is an impartial platform for dialogue and often brings together competitors and groups that may not traditionally work together to discuss complex issues. This new platform will utilize the Forum’s multistakeholder approach and hopes to convene responsible businesses and accelerate their participation on this topic. The new platform will leverage experts with different points of views and analyse decision-making systems and learnings from existing industries.
Dominic Waughray, Managing Director, World Economic Forum said: “Deep-sea mining is a cross-cutting topic that could affect both progress on climate action as well as the preservation of biodiversity and is connected with the transition to a circular economy. Stakeholders owe it to themselves and to the planet alike to make the wisest decision possible.”
The next years are critical as regulatory, technology and investment decisions are being made. These decisions could determine the environmental and social impact of deep-sea minerals. Although the minerals may not enter supply chain for a few years, examples involving cobalt mining from the Democratic Republic of Congo and palm oil supply from Indonesia, show that failing to act early, can result in costly efforts to clean up the supply chain and reputational impact afterwards.
A new briefing paper released today, Deep-Sea Minerals: What Manufacturers and Markets Need to Know, highlights why mineral sourcing manufacturers and metal markets need to engage now on the deep-sea mineral discussion.
It highlights responsible sourcing considerations for companies that use or exchange metals and minerals, complementing existing reports on the gap between mineral supply and demand as well as the lack of scientific understanding of the deep sea and potential impacts of mineral extraction.
The paper underscores a trend of manufacturers and metal markets increasing their attention on the environmental and social conditions of the minerals they source. It the first in a series of three about the potential extraction of deep-sea minerals, written for manufacturers and market exchanges.
Assheton Stewart Carter, CEO of TDI Sustainability, said: “Decisions being taken now on the development of deep-sea minerals have implications for ocean conservation, responsible sourcing, sustainable production and even for our fight against accelerating climate change. It is a topic of generational importance. We have learned from other industries – such as oil sands development, hydro-electric dams, nuclear power generation – that when decisions to proceed with megaprojects fail to be inclusive and informed by science, it can lead to delays, irreversible social and ecological damage, or abandoned assets – for once we have the opportunity to engage and contribute to opinions on whether and how deep-sea mineral are developed before the industry has begun in earnest. We should grasp it.”
Maintenance Tips for Second-Hand Cars
With a shortage of semiconductors continuing to plague the automotive industry, many are instead turning to the second-hand market to source a bargain on their next car purchase – resulting in a boom in second-hand car sales. Second-hand cars, while cheaper to purchase initially, can present problems quicker without proper maintenance. Here are some simple ways to maintain your second-hand vehicle.
Read the Manual and Service History
The first thing you should endeavour to do with any second-hand car purchase is to scrutinise your car’s service history book and user manual. The former will give you crucial information on prior issues that have cropped up with the car, either giving you an idea of what may fail next or what not to worry about, while the latter gives you important details regarding points of maintenance on your car: where your oil pan is, where the safe anchor points for trolley jacks are, and the location of various parts of the engine.
Keep Your Oil Fresh
One key way you can ensure the longevity of your second hand vehicle’s engine is to learn how to replace its engine oil, and to replace its engine oil regularly. The oil cleans and lubricates the engine, preventing debris from clogging moving parts and causing wear. Over time, the oil becomes dirty with this debris, and can eventually pose a threat to the engine’s safe running itself. New oil ensures the engine stays clean, and keeps it running for longer.
Keep a Regular Service Schedule
As with any vehicle, taking your second-hand car in for regular appointments with a mechanic can keep on top of potential problems before they cause more issues; booking a car service online makes managing your car’s service schedule easy, and can make sure that your car remains healthy and well-maintained thanks to regular check-ups via a professional pair of eyes. Regular servicing can also reduce the potential incurred costs from failed MOTs.
Clean Your Interior
Keeping your car’s interior clean might seem like a relatively insignificant task with regard to your car’s overall maintenance, however taking car of the surfaces and fabrics in your car can increase their lifespan, reducing the need for potential re-upholstery and preserving your personal comfort while driving. Regularly vacuuming footwell mats and seat cushions can stave off wear and tear, while regularly cleaning and polishing trim can preserve their condition.
Lastly, but by no means least, your driving habits can have a profound effect on the life span of your vehicle. Those who drive fast and brake hard are sure to encounter more issues quicker than those who adopt safe driving techniques and approach the road with a sense of calm. Simple things like coasting into corners and accelerating at a steady pace can ensure your brakes, suspension and engine live their longest possible life, giving you a great run with your new second-hand vehicle.
Choosing the Best Engine Hoist for your Garage
An engine hoist is an extremely valuable piece of equipment. It will allow you to remove an engine from a vehicle easily, without putting yourself or others in danger. People have been using ropes and pulleys for centuries to lift heavy objects – and some modern engine hoists work via the same principles. However, there are a few alternatives which offer distinct advantages.
So, what’s the best kind of engine hoist for your garage? Let’s look at choosing the best engine hoist for your next car repair job.
The manual hoist uses old-fashioned pulleys and cords to lift a heavy object. These tend to be the simplest option, and therefore the cheapest. Simply pull on the chain, and the other chain will move. The main drawback here is that the manual hoist needs to be suspended above the room. That means that you’ll need a suitably-rated ceiling that’s capable of carrying the load.
A manual chain can allow a single person to lift tonnes of weight, since the arrangement of pulleys will result in a larger transfer of force. The cost is that you’ll be moving the chain a large distance to move the engine just a small one.
Hydraulic hoists work using fluid, spread over multiple vessels. By reducing or increasing the amount of fluid in one vessel, you can change the amount of fluid in another, attached by a length of hose. In this way, you can push or pull heavy loads. A telescopic boom arm actually does the lifting, with the help of pumps, cylinders, and oil.
Hydraulic hoists are positioned on the ground rather than the ceiling, and they tend to come with plenty of castors so that they can be moved from one side of the workspace to the next. The relative mobility of the hydraulic hoist puts it at a considerable advantage over the mechanical one in situations where you need to be flexible. You can even use a hydraulic hoist outdoors.
The electric hoist is similar to the manual one, except that you don’t have to pull on the chain – an electric motor will do that for you. This makes life much more convenient – though you can expect to pay a little extra for the remote-control console. Electric hoists tend to be underpowered in comparison to hydraulic ones, which might be something to consider if you’re lifting loads heavier than a few hundred kilos.
Electric hoists tend to be operated by a single dangling button, which means that you might not have the same degree of precise control as you do on a manual hoist. For most applications, however, this won’t be an issue.
Tech Start-ups Key to Africa’s Digital Transformation but Urgently Need Investment
The World Economic Forum’s latest report, “Attracting Investment and Accelerating Adoption for the Fourth Industrial Revolution in Africa” analyses the challenges Africa faces in joining the global knowledge-based digital economy and presents a set of tangible strategies for the region’s governments to accelerate the transition.
The Forum’s report, written in collaboration with Deloitte, comes just weeks after the announcement by Google of a $1 billion investment to support digital transformation across Africa, which centres on laying a new subsea cable between Europe and Africa that will multiply the continent’s digital network capacity by 20, leading to an estimated 1.7 million new jobs by 2025. Africa’s digital economy could contribute nearly $180 billion to the region’s growth by the by mid-decade. Yet with only 39% of the population using the internet, Africa is currently the world’s least connected continent.
Tech start-ups such as Kenya’s mobile money solution Mpesa and online retail giant Jumia, Africa’s first unicorn, represent what the continent’s vibrant small business sector is capable of. Despite raising $1.2 billion of new capital in 2020 – a six-fold increase in five years – this represents less than 1% of the $156 billion raised by US start-ups in the same year. Meanwhile, Africa’s investment in R&D was just 0.42% of GDP in 2019 – less than a quarter of the global average of 1.7%.
“African governments urgently need to drive greater investment in the tech sector and the knowledge economy,” said Chido Munyati, Head of Africa Division at the World Economic Forum. “Policy-makers can make a difference by reducing the burden of regulation, embedding incentives within legislation and investing in science and technology skills.”
The report breaks down these three policy enablers:
- Pass legislation such as “Start-up Acts” designed to spur private sector innovation, reduce the burden of regulation and promote entrepreneurship, in which Tunisia and Senegal are leading the way.
- Embed incentives for start-ups in legislation, such as start-up grants, rebates on efficiency gains through technology implementation, co-investment of critical infrastructure, tax-free operations for the early years, and incentives for R&D.
- Invest in workforce education, skills and competencies. Currently, only 2% of Africa’s university-age population holds a STEM-related (science, technology, engineering, mathematics) degree.
However, the analysis of 188 government incentives for business across 32 African countries finds that just 14 incentives – fewer than 10% – facilitate investment in Fourth Industrial Revolution technology. And most of these incentive schemes lack an efficient monitoring and evaluation system to gauge their effectiveness.
Delia Ndlovu, Africa Chair, Deloitte, believes that digital transformation promises to boost economic growth in Africa: “Connecting the region to the global digital economy will not only open new avenues of opportunity for small businesses, but will also increase intra-Africa trade which is low at 16% compared to markets such as intra-European trade which is approximately 65% to 70%.”
African governments have much to learn from each other. In Côte d’Ivoire, an R&D tax incentive has been created to direct investment away from commodities and into innovation. In South Africa, the Automotive Investment Transformation Fund created by the largest manufacturers in the country is facilitating the development of a diverse supplier base to realise the 60% local content target set by the Automotive Production and Development Programme (APDP). In Tunisia, the government offers state salaries for up to three start-up founders per company during the first year of operations, with a right to return to their old jobs if the venture fails.
Ukraine crisis could produce an unexpected winner: Iran
Iran potentially could emerge as an unintended winner in the escalating crisis over Ukraine. That is, if Russian troops cross...
How Twitter can help your business
Twitter is easily one of the leading online platforms which encourages networking on a global scale. The number of users,...
2022: Rise of Economic Power of Small Medium Businesses across the World
Why mirrors of the Wall: To fight obesity a life-sized mirror required, to uplift the national economy a simple calculator is...
Lebanon’s Crisis: Great Denial in the Deliberate Depression
The scale and scope of Lebanon’s deliberate depression are leading to the disintegration of key pillars of Lebanon’s post-civil war...
Preventing Nuclear War in the Middle East: Science, System and “Vision”
“A scientist, whether theorist or experimenter, puts forward statements, or systems of statements, and tests them step by step.”-Karl R....
Unified Libya will come only via ballot box, ‘not the gun’-UNSC
Libya is at a “delicate and fragile juncture in its path to unity and stability”, the UN Political Affairs chief told the Security Council...
The American politicization of the Beijing Winter Olympics, and the “post-truth era” theory
Since the Egyptian researcher has begun her academic major in “contemporary Chinese political affairs and contemporary communist studies”, I have...
Economy4 days ago
Can e-commerce help save the planet?
Defense3 days ago
What is driving Russia’s security concerns?
South Asia4 days ago
India’s Unclear Neighbourhood Policy: How to Overcome ?
Middle East3 days ago
UAE schoolbooks earn high marks for cultural tolerance, even if that means praising China
Africa Today4 days ago
1.5 million children lack treatment for severe wasting in Eastern and Southern Africa
Human Rights4 days ago
UNRWA condemns demolition of Palestinian home in East Jerusalem
Africa Today3 days ago
South Africa’s Covid-19 Response Gets a $750 Million Boost
Finance3 days ago
Global Policy-makers Face Complex Set of Divergent Economic Challenges in Coming Year