FUTUREPROOFING THE SOUTH AFRICAN MINING INDUSTRY
SRK ’ S 50-YEAR LEGACY SPARKLES
AFRICAN BUZZ •
FUTUREPROOFING THE SOUTH AFRICAN MINING INDUSTRY
An additional and equally important requirement is a regulatory and administrative environment that encourages mining investment .
The Mineral and Petroleum Resources Development Act is undergoing a revision by the regulator . The Minerals Council actively advocates for an Act that will attract investment in exploration , mine development and to extend the lives of existing operations .
As delegates at any number of mining conferences know well , a stable , regulatory environment that is efficiently and honestly administered is at the heart of a favourable investment destination .
By Minerals Council South Africa
No single stakeholder can future-proof mining , which is an activity that entails partnerships , cooperation , and a shared vision by all involved .
The fundamental requirements for companies to make high-risk investments in prospecting and to commit to the long-term , large capital required to build and operate mines include a stable , investor-friendly regulatory and fiscal environment . Ideally , having a shared vision of how to unlock the economic and social benefits that mining can bring will contribute towards a secure environment .
Constructive community relationships , leading practices in environmental , social and governance are equally important not only for host countries but investors too .
South Africa is undoubtedly rich in minerals , both known and unknown , but the country has for years attracted less than 1 % of global exploration spend , down from more than 5 % two decades ago . Investments in new mines are rare .
A rational , pragmatic and investor-friendly approach is needed in drawing up a new Act , with due consideration given to the inputs from mining companies , and the investment along with the desire of the GNU to encourage inclusive economic growth and job creation . The mining sector can provide both , but only in a sensible and conducive environment that will future proof the industry for generations to come .
SRK ’ S 50-YEAR LEGACY SPARKLES
Trust between all stakeholders is essential to achieve the cooperation and realisation of the shared vision of all stakeholders .
This was the unequivocal message delivered by exploration and junior mining companies at the Africa Down Under conference held in Perth in September .
Mines are generally built in isolated areas , far from major towns and infrastructure . In South Africa , this means the mines are the source of jobs and infrastructure to support operations . In instances where municipalities are poorly or corruptly managed , communities turn to a demonstrably functional and viable business that is a source of jobs to provide services and opportunities that the local government cannot .
While companies have obligatory Social and Labour Plans that underpin their mining rights , these have been agreed on in advance over five-year periods with the Department of Mineral Resources and Energy , aimed at specific investments . Additional ad-hoc demands from communities , which may relieve local authorities of the burdens of governance , it places unwarranted pressure on mining companies to provide municipal services and become the target of community grievances . These in turn affects production and profitability .
Effective , efficient and corruption free governance is essential at all levels , from national government to the smallest municipality to create a conducive operating environment for mining , business and society . The importance of the commitment by President Cyril Ramaphosa and the parties in the government of national unity ( GNU ) to address dysfunctional municipalities and crime and corruption cannot be understated for futureproofing the South African mining industry .
Supplied by SRK Consulting
SRK past and present leadership : Peter Labrum , Vis Reddy – current SA chair ; William Joughin , Andy Barrett , Tim McGurk – current global MD ; Graham Howell and Andrew van Zyl – current managing director SRK SA .
As part of the group ’ s global 50 th anniversary celebrations , SRK Consulting South Africa held a sparkling commemoration event at the Wanderers Club in Johannesburg in October , 2024 – with memories and inspiration from local and overseas dignitaries .
The memorable occasion brought together clients , industry participants , current and former SRK leaders and members of the media to reflect on the groundbreaking journey of SRK ’ s last five decades . The evening ’ s high-profile speakers looked back on the legacy of SRK ’ s founders and looked ahead to the bright future this heritage promises .
Kicking off the evening with the voice of one of the founders set the tone for the event . In a heartfelt video message shared by Hendrik Kirsten , he noted how he and the other founders of SRK – Oskar Steffen and Andy Robertson – were , at the time , recently qualified civil engineers , having just obtained their PhDs .
“ In our early 30s , we took the risk of developing and bringing together our skills and knowledge in rock slopes , rock excavations ,
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