PLEASE NOTE:

MyNews24 is a user-generated section of News24.com. The stories here come from users.

 
Ed
 
Comments: 0
Article views: 0
 
 
Latest Badges:


 
View all Ed's badges.
 

Where is Africa when Africa is being discussed?

09 April 2013, 15:00
When the who ’s who of mining converge, one can expect nothing less than the finest thought provoking and somewhat mind-boggling numbers to be shared. The Investing in African Mining Indaba 2013 was no exception, attracting leaders from various facets of the mining industry from all corners of the globe. Africa, the new frontier of the 21st century, is set to become the largest supplier of precious minerals, base metals and chemical minerals in the future. If current trends continue, Africa could be supplying 50 - 75% of the world’s minerals as the developed world experiences depletion in their own mineral resources. While many perceive Africa’s embryonic stage of economic development as an obstacle, the business world sees this as an opportune time to scramble for Africa yet again. The acquisition of assets at this stage is much more cost effective for those in positions to acquire funding and finance operations across all sectors.

While foreign investment is vital for the development of the mining sector, it comes with adverse effects that may see African economies further plagued with issues of lopsided distribution of income and neo-colonialism. Mining companies which presented white papers, among them Rio Tinto, Anglo American, Lonmin and other large corporations with operations in various parts of Africa, divulged current and future plans to bring about social development. It seems mining companies are of the standpoint that enough is being done to give back to the mining communities in which they operate while a prominent executive went on to say, “ governments often ask for more than they are willing to give…”

The extent to which this statement holds water may be debatable but the vital question that remains unanswered is “To what proportion do social development projects equate to the value of mineral resources mining companies stand to gain?” Taking into account the capital intensive business that mining is, it can be understood that miners should have room to somewhat dictate the terms. However, left in the bank, would the large amounts of money yield much without assets such as the rich mines of Africa to generate profit?

The debate of sustainable development rages on, perhaps a one sided one, as there seemed to be a bias towards those who have the voices to speak at such forums as the Mining Indaba. The consensus among speakers was to engage all stakeholders in mapping the way forward for African mining, yet sadly, all stakeholders were not well represented.It may be easy to berate tales of injustice and negate the good that mining has contributed to Africa through backward looking but if Africa is to truly benefit from the vast resources she boasts of, a number of things need to be put in place. While this is not an antidote to the problem of Africa’s poverty, it may very well be one of the many steps to making Africa at large experience more economic growth.
  • Easy access to information on opportunities available in mining
  • Educate local communities on the various facets of mining to encourage participation
  • Develop local and regional capital markets to encourage the participation of local junior miners to venture into the industry
  • Education from the grassroots level of the geography and needs of Africa in order to foster innovative thinking
  • Regional trade blocks to standardise regulations for the mining sector to eliminate double standards for multinational miners
  • Regional research and training institutions to encourage development of home-grown solutions for deficits in technology and skills shortages
Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received.

 

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining

Read more from our Users

Submitted by
Peter Currie983
Research laws

We read at different times that someone is to be executed for drug smuggling or receiving long prison times, I have also read about Arab woman being beaten for breaking the law of the country. Read more...

2 comments 118 views
Submitted by
Revelgen
How long before the ANC kills off...

The figures are scary. Over 16 million people on social grants. Zuma builds his palace for R246 million. Read more...

5 comments 372 views
Submitted by
Ryan_Ruffgrain
Manchester City Season in Review

Manchester City finished the season in a distant second behind Chelsea. While that may not seem a particularly ignominious fate, it’s their midseason dip in form that would be of most concern to the City faithful. Read more...

0 comments 203 views
Submitted by
Madelyn Bekker
Unabridged birth certificate chao...

Home Affairs is completely unprepared for the law that comes into effect 1 June that all minors travelling internationally will not be allowed to travel without an unabridged birth certificate.  Read more...

16 comments 1828 views
2015 Year of the Raging Rabada

Rabada is a cool, calm collected youngster who takes in all the experiences his premature cricket career is delighting him with. He is also a star in the making. Read more...

0 comments 198 views
Submitted by
SkerP
So very disappointed...

The 2010 World Cup in SA was magnificent. Who can ever forget the fan parks, Football Fridays, a sea of yellow jerseys, Siphiwe Tshabalala's opening goal, Madiba putting in a cameo appearance? Read more...

9 comments 622 views
 

services

E-mail Alerts The latest headlines in your inbox

RSS feeds News delivered really simply.

Mobile News24 on your mobile or PDA

E-mail Newsletters You choose what you want

News24 on your iPhone Get News24 headlines on your iPhone.

News24 on Android Get the latest from News24 on your Android device.

SMS Alerts Get breaking news stories via SMS.

Blogs Your opinion on you, me and everyone.

 
Interactive Advertising Bureau
 
© 2015 24.com. All rights reserved.
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.