Strong uptake for ‘Investing in African Mining’ Indaba

Strong uptake for ‘Investing in African Mining’ Indaba

The theme for 2023 Indaba is “Unlocking African Mining Investment: Stability, Security, and Supply”. Photo: Supplied

The “Investing in African Mining” Indaba yesterday announced that it had seen a lot of early commitment from key government leaders and policymakers for the February event in Cape Town, which takes place after a volatile 2022 for the sector.

The theme for the 2023 Indaba is “Unlocking African Mining Investment: Stability, Security, and Supply” and will feature speakers who will consider the challenges and opportunities facing the continent’s mining industry, as it seeks ways to bolster its economic power amid the global rush to secure supply for the greener energy transition.

Minerals used in the greener energy transition are cobalt, copper, lithium, nickel, and rare earth elements – all essential for producing electric vehicles and batteries, harnessing solar power and wind energy

Local mining firms are hot on the deal trail to acquire green energy metals, with companies such as Sibanye-Stillwater last year spending billions on the company’s broader strategy on green energy metals and developing a “climate change resilient” business, while Anglo American develops hydrogen capabilities, among other miners.

The event is to take place at a time when the South African mining sector has been confronted with an extremely volatile 2022, with three core challenges: Russia invading Ukraine, Eskom’s load shedding, and Transnet woes, both port and rail.

According to Statistics South Africa (Stats SA), mining output in South Africa remained firmly in contractionary territory after falling more than expected in October, due to several headwinds facing the sector.

Stats SA revealed that mining production in South Africa slipped by 10.4% year on year in October, following an upwardly revised 5.1% decline in September.

This was the ninth consecutive month of falling mining activity and to the greatest extent since April, partly due to persistent and extensive load shedding.

Government delegates who are set to attend the Indaba are Mineral Resources and Energy Minister Gwede Mantashe and Trade, Industry and Competition Minister Ebrahim Patel.

According to the Indaba organisers, attendees will hear from global mining leadership including Anglo American CEO, Duncan Wanblad; Rio Tinto Minerals CEO, Sinead Kaufman; Exxaro Resources CEO, Nombasa Tsengwa; Minerals Council South Africa CEO, Roger Baxter; Gécamines SA chairman Alphonse Kaputo Kalubi and ICMM CEO, Rohitesh Dhawan.

Investing in African Mining Indaba portfolio director, Simon Ford, said: “We saw a record-breaking Indaba in May, 2022 that really set the tone for the industry and for post-pandemic events as we lead up to February, 2023.

“We are seeing a lot of early commitment, and we are encouraged by the interest we have already received. This really reaffirms the importance of the Indaba, that it is given the utmost attention and support by state officials and is really driving positive policy change across the continent.”

Government leaders that would attend from mining-producing countries in Africa include Nigeria’s Minister of State for Mines and Steel Development, Gbemisola Ruqayyah Saraki; Ghanaian Minister of Land and Natural Resources, Samuel Jinapor; and the Ghanaian Deputy Minister for Land and Natural Resources, George Mireku Duker; as well as the Zambian Minister of Mines and Minerals Development, Paul Kabuswe.

On the global front, the US Under-secretary of State for Economic Growth, Energy, and the Environment, José Fernandez is also to also attend. He will be joined by Special Presidential co-ordinator, Amos Hochstein.

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