EXCURSION •
“ Market disruptions have been a part the industry since the Bronze Age as evidenced by gold rush in California ’ s Mother Lode in the mid-19th century and the former Transvaal at the turn of the last century .” Similarly , disruption can be health-related like the global COVID-19 epidemic ; climate-related like Global Warming and the El Niño phenomenon ; politically related like the recent 2023 Israel-Hamas war ; industrially and technologically related like the AI and digitalisation revolution ; and civil-society related – if ESG is not considered , who knows what kind of disruption the world would face ?
On the first day of the event , Frans Baleni , Executive Advisory Board chair of Mining Indaba noted that over the 30 years of its existence , the Mining Indaba ’ s evolution included a move from an event focused on the mining industry in South Africa to that of the continent and beyond . The significance of the event is showcased in the 9 900 delegates attending in 2024 from 115 countries ; including 1 200 investors and dealmakers , more than 1 500 mining company executives and 690 junior mining executives as well as 320 exhibitors . Added to this , 111 senior government ministers and officials from 74 countries attended , with three Heads of State : Cyril Ramaphosa , President of the Republic of South Africa ; H . E Hakainde Hichilema , President of the Republic of Zambia and H . E . Jean-Michel Sama Lukonde , Prime Minister Democratic Republic of Congo delivering three keynote addresses .
The Ministerial Symposium The symposium set the scene to unfold in the coming days with over 60 ministers meeting with government officials and mining sector CEOs . It sparked the beginning of the disruptive debate and collaborative conversation hoping to propel development , investment , safety and sustainability in the African mining sector for the future . Laura Cornish , head of Content at Mining Indaba noted three themes discussed , identified as “ some of Africa ’ s greatest inhibitors to growth .” These were : limited exploration spend and investment ; reducing minerals right issuing backlogs and unpacking how to exploit Africa ’ s critical minerals abundance .
“ The solutions presented around critical minerals included Africa ’ s need to understand its geology and identify its mineral endowment – which will encourage exploration as a natural consequence . Critical centres of excellence were suggested as an additional solution .” Attendees acknowledged the challenges surrounding mineral rights and key solutions like the removal of corruption , bureaucracy and red tape . “ Administration processes need to be improved and disparity around agencies involved in issuing rights should be streamlined . Increasing exploration lies at the heart of all challenges and in fact requires the most urgent attention , considering a mine can take a decade or more to build from the moment a potential project is identified .” There was consensus that : the region must think long term , cadastral
systems would provide accurate data , and added to clear policy , would start to resolve the lack of exploration across the continent .
The Presidents and Disruptive Discussions stages The rhetoric of government , mining houses , suppliers and consultants – though in some cases the ‘ same old , same old ’ – was directed by the theme and was in fact in many instances buoyed by the power of solution seeking public-private partnership and the friction of some difficult conversations .
Although the global North has been driving the demand within the race for critical minerals defined largely by self-interest , holding a substantial portion of the solution – the global South wanted to know , “ What ’ s in it for us ?” South Africa , Zambia and the Democratic Republic of Congo , amongst many other African countries endowed with the critical minerals and renewable resources in demand , were at pains to showcase their intent to facilitate much needed international investment in mining for urgent economic growth ( with business-friendly policy , amongst other initiatives ), but not without the prerequisite ESG , downstream beneficiation and community buy-in . Robert Friedland founder , executive co-chair and non-independent director Ivanhoe Mines , always a speaker at the event noted , “ The biggest challenge for mining in Africa is governance .” Only time will tell , however – as it has over the past year in Zambia ’ s case with a spate of new investment interest where regulatory action has prompted development – if these countries put action to their promises .
Insights and the voices of disruption from CEOs of Africa ’ s foremost mining companies were shared on the Disruptive Discussions stage where they spoke of their strategies for introducing positive transformation and disruptions to the industry . The focus was not only on harnessing Africa ’ s vast mineral wealth , but on the challenges mining companies faced such as poor infrastructure and energy supply and governments ' willingness to make mining viable . Discussions also focused on how to ensure that the benefits from mining are shared across the value chain and the transformative power of mining companies in fostering innovation and sustainability .
To successfully manage this upheaval and strengthen our collective resilience as countries and companies , we must act swiftly and together .
Supplied by Investing in African Mining Indaba 2024
H . E . Cyril Ramaphosa , President of the Republic of South Africa .
Supplied by Investing in African Mining Indaba 2024
H . E . Hakainde Hichilema , President of the Republic of Zambia .
Supplied by Investing in African Mining Indaba 2024
H . E . Jean-Michel Sama Lukonde , Prime Minister Democratic Republic of Congo . www . africanmining . co . za African Mining Publication African Mining African Mining • April 2024 • 17