Cape Town - Africa represents half of the top 20 countries globally with the highest mineral export contributions, with Botswana (91.7%) and Democratic Republic of Congo (81.5%) topping the table, a study reveals.
The study will form centrepiece of the sustainable development day at Mining Indaba, which started on Tuesday.
The research indicates that the contribution of mineral exports to national economies in Africa rates as some of the highest in the world.
The biggest challenges facing the mining industry included two years of commodity prices being on a cyclical global downturn, Mining Indaba MD Jonathan Moore told Fin24.
“We’ve got the knock on effect that has had on the mining companies really positioning them in the worst market that we’ve seen since the 2008 fiscal crisis,” he said.
Moore hopes this year’s indaba will reveal catalysts to get out of this poor position. “Participants at the indaba … will be able to project what will happen next,” he said.
When any sector goes through challenging times, it individuals with a long-term vision and commitment, who travel far and wide to position themselves to uncover the real insights, which ultimately make the most shrewd business investments, Moore explained.
Listen to the full interview:
“The realities of the development of the [African] continent are all combining to make that be the more likely scenario than any other,” he said.
The indaba encourages education and promotion of the sector. “All the mining sector’s eyes are on Cape Town [during this time],” he said.
Importance of indaba
“For more than 20 years, Africa’s mining companies have played a pivotal role in the success and growth of the mining, in fact it is viewed as an investment barometer that generates significant media interest and business news coverage globally,” Moore explained.
“In bringing Africa’s top mining leaders, we showcase all of Africa’s attractive mining investment opportunities to global investors seeking to invest in new projects and regions on the continent.”
There will be more than 50 corporate mining presentations featuring CEOs and board level representatives presenting at the Mining Indaba and its complementary conference, the Investment Discovery Forum.
They will be addressing the status of current and new projects, overall corporate initiatives and other key issues that investors want to hear from the captains of the African mining industry.
Who’s who of indaba:
CEOs from the following companies are just a handful of those that are confirmed to present:
- Tom Albanese, VEDANTA
- Graham Briggs, HARMONY GOLD
- Mark Bristow, RANDGOLD RESOURCES
- Alan Davies, RIO TINTO
- William Dawes, MKANGO RESOURCES
- Robert Friedland, IVANHOE MINES LTD
- Brad Gordon, ACACIA MINING
- Chris Griffiths, ANGLO AMERICAN PLATINUM
- R. Michael Jones, PLATINUM GROUP METALS LTD.
- Ben Magara, LONMIN PLC
- Bruce McFadzean, MAWSON WEST
- Christian de Saint-Rome, COPPERZONE RESOURCES
- Mike Schmidt, AFRICAN RAINBOW MINERALS (ARM)
- John Simpson, PENINSULA MINERALS LIMITED
- John Sisay, SIERRA RUTILE LIMITED
- Sylvie St-Jean, AMBATOVY
- Paul Thomson, A-CAP RESOURCES
- Srinivasan Venkatakrishnan (Venkat), ANGLOGOLD ASHANTI
- Neil Woodyer, ENDEAVOUR MINING CORPORATION
- Nikolai Zelenski, NORDGOLD