Unearthed: The Mining Indaba 2019
The trends, opinions and waves that were formed during the event’s 25th anniversary in Cape Town 2019
The Mining Indaba 2019 has just hosted its 25th annual event in Cape Town. Running from February 4-7 2019, the event has seen a 12% year-on-year increase in attendance, with a record 6 000 people filling the Cape Town halls this year. As the largest event of its kind in the world, the indaba is a useful melting pot of opinion, analysis and trends for the mining industry, featuring impressive keynote speakers, visiting dignitaries, networking experiences for young entrepreneurs and investment opportunities for high-end investors. With a list of guest speakers that included the President of Ghana Nana Akufo-addo and the President of South Africa Cyril Ramaphosa, the topics were weighty and the insights relevant.
The keynote address delivered by Mineral Resources Minister Gwede Mantashe focused on the concerns that face the sector around mining policy and frameworks in South Africa. He took pains to reassure the industry that the government was addressing the challenges of administered prices, and that his department was also looking into the problems that exist around the double-granting of licenses and the backlogs in issuing licenses. He paid attention to the concerns around bottlenecks in government and how these were impacting on the industry. And, perhaps most importantly, he focused on the health and safety issues that continue to plague the industry, emphasising the urgent need for long-term solutions.
In addition to the ongoing need for creative and sustainable solutions to health and safety, one of the key themes to emerge from the event was the need for exploration. Its importance was emphasised across speaker, expert and forum. At the event, De Beers revealed that it would be investing R30-million into diamond exploration across Africa. Ramaphosa asked Mantashe why exploration had tapered off and spoke about how this has become a priority going forward. The emphasis throughout was on how the mining sector in South Africa is not one hobbling towards its sunset years, but is rather filled with youthful vigour and enthusiasm.
This sentiment was echoed across most of the keynote presentations from African leaders and industry experts. The Indaba had serious attendance from African ministers. The South African list included Minister in the Presidency for Performance, Monitoring and Evaluation, Nkosazana Dlamini-zuma, Minister of Energy Jeff Radebe and Minister of Trade and Industry Rob Davies. From international shores the mining ministers included Ghana’s Kwaku Asomah-cheremeh, Samuel Urkato from Ethiopia, Aggrey Masi from Malawi, Keketso Sello from Lesotho, and Angola’s Diamantino Pedro Azevedo, among others.
Mining Indaba 2019 (and its predecessors) didn’t just paint pictures of perfection. The sector faces considerable uphill challenges, not least the failure of state-owned Eskom. Already there is plenty of outcry around the failing lights across the country over the past few weeks, which impacts heavily on investor confidence and economic outlook. Ramaphosa has promised Eskom reforms, outlining a plan that could potentially lift the endangered utility out of its existing crisis. There has been significant opposition, but it seems that government is on track to find a way out of the crisis as efficiently and sustainably as possible.
Nana Akufo-addo’s speech carried a similar message to that of Ramaphosa, one that recognises how Africa has access to significant mineral wealth and it is critical that government and industry work together to harness its potential. Everyone has to come together so all can benefit from what mining has to offer. His speech also reinforced the sense that African countries are starting to work together more effectively to eliminate the roadblocks to success and to put Africa back on the map as a competitive forice.
Mantashe’s appointment has injected some hope and positivity into the sector. Many feel that having a minister with a background in mining shows government’s commitment to the sector’s growth and to managing the issues that currently impact on its growth. There is also a sense of positivity around the fresh blood that’s entering the industry, bringing with them innovation and determination.