The mining industry – one of Africa’s intensive energy users – attracted a large crowd of investors from across the globe seeking opportunities in the African market as they gathered at the Investing in African Mining Indaba in Cape Town.
Speaking at the event on Tuesday, South African President Cyril Ramaphosa, said: “It is indeed a singular honour to join you at this Mining Indaba. It is fitting that this occasion should coincide with the 25th anniversary of achievement of democracy in South Africa given the significant role that mining has played in the construction of the country.”
He emphasised the importance of collaboration. “This Indaba offers us a valuable opportunity to engage with investors from across the globe seeking opportunities for new and further investment in the mining industry on our continent. It is important that investors are here to create value for shareholders and become partners on a journey of inclusive development.”
Ramaphosa continued: “The days of conflict between the industry and government, between industry and labour and communities should belong to the past. There must be more collaboration, co-operation, consensus building and working together.” Read more: Outlook for South Africa mining sector for 2019 bullish
“We need to use this platform provided by Mining Indaba to strengthen our collaborative efforts aimed at regional integration, as government plays its role in creating an environment in which mining thrives for the benefit of all its people.”
Committed to the mining industry
In closing, President Ramaphosa said: “We are committed to the mining industry. This is a sunrise industry. We would like you as investors, operators, managers, chief executors to see your own industry as a sunrise industry. Come join us.”
In his address, Nana Akufo-Addo, the President of Ghana, also reflected on the need for collaboration to create shared and inclusive value for all stakeholders.
“Mining is a necessity, not just an indulgence. We must strike deals that are fair to both sides. Negotiations between companies and governments should be transparent, and accessible and easily understandable by citizens.
“We know that the extractive sector can be the champion of economic growth on the continent – it has great potential for job creation and can form the basis for transformation.
“In Ghana, we hope to establish an equitable balance between our needs and the needs of the investor community, it is time for the mineral sector to produce win-win situation for all stakeholders.”