The Africa Mining Indaba 2024 kicked off on Monday, February 5th, in Cape Town, South Africa.
The event was officiated by President Cyril Ramaphosa, who welcomed delegates and called for collaboration to address the challenges faced in the industry.
The theme of the 30th Investing in African Mining Indaba is, “Embracing the power of positive disruption: a bold new future for African mining.”
The event is set to run until Thursday, February 8th, and over 10,000 delegates shall be in attendance.
President Ramaphosa addressed the opening ceremony which was attended by Zambia’s President Hakainde Hichilema.
Additionally, Prime Minister Sama Lukonde of the Democratic Republic of the Congo, as well as ministers and deputy ministers from across Africa were present.
Ramaphosa said that mining has been important for South Africa for almost 150 years.
“For nearly 150 years, mining has been a pillar of the South African economy. It currently contributes roughly 7.5 percent towards GDP and accounts for some 60 percent of South African exports by value.
“Working with industry and labour, the democratic government has been able to effect a wide-ranging and sustainable transformation of the sector over the past three decades.”
Moreover, Ramaphosa mentioned some challenges like changing commodity prices, high energy costs, and global tensions.
Africa Mining Indaba Addressing Challenges and Embracing Opportunities
He also talked about problems in the country, like energy shortages and transport issues, and promised to work hard to fix these problems.
“We are all acutely aware that we face strong headwinds, and a number of persistent challenges are impeding mining performance.
“Globally, commodity price volatility, high energy prices, geopolitical tensions and a global cost of living crisis are playing a significant role in dampening the business operating environment.”
“Domestically, the energy crisis and port and rail bottlenecks are putting serious pressure on miners’ operational costs.
“Illicit mining, cable theft and infrastructure vandalism place a further strain on mining output and returns.
“However, we are committed to work hard and work together to overcome these serious challenges.
Day 1 of Africa Mining Indaba delved into the Global Electronic and Automotive Producers Talkshop.
The panel addressed the importance of accessing critical minerals and the value Africa can bring to the industrialisation of components.
They also discussed why good ESG (environmental, social, and governance) performance is central to the global supply chain debate.
Leaders in the mining industry also talked about positive changes and the future of mining in Africa.
They discussed exploration, bans on mineral exports and making sure there’s enough critical minerals. They also discussed how minerals are transported, and how communities are involved.