More than 7,000 delegates gathered for the first day of the 2016 Mining Indaba, the world’s largest mining investment conference and Africa’s largest mining event. The day was filled with keynote speaker presentations and panel discussions featuring the industry’s foremost thought leaders, giving delegates’ insight into the opportunities and challenges facing the mining industry across Africa and the globe.
Minister Zwane talks about propelling the industry to new heights
One of the first speakers of the day was the Mineral Resources Minister, Mosebenzi Zwane, who said he has engaged with industry stakeholders over the past few months and gained a deeper understanding of the issues facing the industry and what is required to propel it to new and sustainable heights.
He assured delegates that Government has prioritised the processing and finalisation of the Mineral and Petroleum Resources Development (MPRD) Amendment Bill and is in the process of reviewing the Mining Charter. In addition, he said Government would continue to create an enabling environment for investment and ease of doing business in the country.
He urged all mining companies to continue treating workers with dignity and respect and create an environment conducive to increased production. Speaking on health and safety issues, he congratulated various businesses that achieved zero fatalities, which included De Beers, over the past 12 months and encouraged everyone to strive for a zero harm target.
Black Rhino Group Chairman says robust financial structure needed for Africa
Following the Minister’s welcome address was a keynote address by Lamido Sanusi, Emir of Kano and Chairman of the Black Rhino Group, on creating a financial structure capable of supporting Africa’s infrastructure and energy needs.
He said it is evident that growth in Africa will depend more on the ability of African countries to attract local and foreign direct private investment into key sectors such as infrastructure and energy.
He said evolving and sustaining a robust financial structure to support the infrastructure and energy needed for Africa’s industrialisation cannot be over-emphasized.
He said only $1 billion of an estimated $18 billion needed for mining projects in Africa between 2015 and 2018 is sourced through an African financing platform, that is, South Africa’s stock exchange, and that efforts towards the deepening of domestic capital markets needed to be intensified.
Mark Cutifani says the mining industry must adapt to accelerated change
Next on the agenda was Anglo American CEO, Mark Cutifani, who spoke about making the right choices in the face of accelerated change in the mining industry. He said in a turbulent market, the mining industry and individual companies needed to channel their energies into making sure they seize opportunities.
He said in addition to their efforts to repair balance sheets and staunch cash outflow, mining companies also face several other pressures – around water, energy, safety, the environment and social scrutiny, amongst others – and that addressing these would require much more innovation in how they plan their futures, both technologically and in the way they think about engaging with people.
He said the world is changing at a faster rate than many have been able to digest in the past five years and it will get faster. He suggested industry players needed to ask themselves the following: Can we position ourselves as a country, a continent, and as a company that partners at each level within our community in developing the future? Can we work together to get ahead of the curve to lift Africa up to and above and beyond competitors around the globe?
Mark said he likes to think Anglo American is at the forefront of change, having the benefits of critical mass and technical expertise, for example, through FutureSmartTM, which is the company’s response for a more sustainable approach to mining.
Mark says, Anglo American is continuing to evolve to make sure it is fit for the future, that it is responding to what the world wants, and making sure it does that in a responsible, sustainable way.
He said change is disruptive, and a time of anxiety for many, but it an essential ingredient to building resilience and success – great companies evolve to succeed, just as individuals do.
Watch Mark’s full speech.
The Kellogg Innovation Network Session
Mark also spoke at a special information session with the Kellogg Innovation Network (KIN) and its development partner approach to collaborating on the future of mining in Africa. KIN involves cross-sector cooperation of a wide range of stakeholders and innovators from academia, civil society, mining and other sectors of society.