The development of young leaders in mining was a key theme on the final day of Mining Indaba. It was an appropriate ending to a gathering that provided a stage for industry stakeholders to discuss every aspect of mining’s future, from its emerging young leaders, to ground-breaking technology and innovative investment vehicles.
The Minister of the Department of Mineral Resources, Mosebenzi Zwane said his department would focus on supporting the growth of junior miners and beneficiation, thereby bolstering enterprise development and job creation. There was also increased investor interest in juniors and exploration projects throughout the week.
At the start of a Young Leaders panel discussion on the state of mining on Thursday, South African Deputy Minister in the Presidency, Buti Manamela, said it was important to engage about the role of young people in the mining industry. “We must also establish how to link the mining industry to sustainable livelihoods.”
In the same gathering Norman Mbazima, our Deputy Chairman of Anglo American South Africa, encouraged young people to consider careers in the mining industry. “Mining is an exciting industry to be part of. There are so many different possibilities available to young people and the skills they learn in mining are highly transferable to other sectors of the economy.”
In a luncheon event earlier in the week, Finance Minister, Pravin Gordhan, reiterated the need to fill the junior mining funding gap and encourage entrepreneurship in the sector.
Some key themes
Overall, this year’s Mining Indaba was characterised by more positive sentiment towards the mining industry than in recent years. There was significant discussion of a recovery for the sector in 2017 and a sense, as South Africa’s Deputy Minister of the Department of Minerals Resources said, that the mining industry was “starting to turn the corner.”
There were, however, corporate and investor concerns relating to regulatory uncertainty across Africa and particularly in South Africa. Dialogue around these issues kicked off with Minister Zwane’s speech, which provided a timetable for publishing the Mineral and Petroleum Resources Development Act and MCIII.
This was followed by our Chief Executive Mark Cutifani’s address, which urged for regulatory certainty. A number of other main stage speakers called for clear policies governing the sector, constructive engagement with regulators and sustainable ways to meet development objectives.
The discussion of the issue of transformation – generally in the context of forthcoming regulation on black ownership requirements – was a key theme, driven by comments from Minister Zwane and Exxaro CE, Mxolisi Mgojo. Mark Cutifani also commented on the need to move past the narrative of ‘white monopoly capital’ in South Africa.
Notably, a number of companies and attendees emphasised innovative mining practices and technologies aimed at boosting efficiency and production. Neal Froneman, in his role as Vice President of the Chamber of Mines, highlighted round-the-clock mining, non-explosive rock-breaking and new extraction technologies.
Mark Cutifani and his co-panellists discussed water and tailings, emphasising procedures for improved management of water, a matter of increasing importance to miners and investors, given scarcity concerns. There was also continued discussion on balancing the benefits of mechanised mines – such as performance and safety – with with the need to provide employment opportunities.
As in past years, the importance of community and stakeholder engagement was raised by most speakers. Regulators and chief executives highlighted significant progress in better engaging local stakeholders and ensuring meaningful delivery of broad societal benefits, though there was a clear message that there is more work to be done.
In a panel discussion on civil society on the final day on Mining Indaba, Jon Samuel, our Group Head of Government and Social Affairs, said developing more meaningful engagement opportunities at a community level is a key focus for Anglo American.
The Mining Indaba programme ended on Thursday, a few hours ahead of the State of the Nation address. Delegates certainly have much to mull over after a full week of engaging on industry issues and gleaning opinion leaders’ insights.