The 18^th Investing in African Mining Indaba attracted a record 7,000 delegates, an increase of 17% or 1,000 delegates compared to the previous year. The conference, held at the Cape Town International Convention Centre (CTICC) from 6 February to 9 February, also contributed more than R106 million to the Cape Town economy.  Continue reading →

FERUARY 10 2012

In recognition of a discernible new wave of resource nationalism worldwide, the 2011 Investing in African Mining Indaba addressed the disparity between Africa’s mineral potential and the benefits reaped from the mining sector to host communities and governments.

“The mining industry was urged to take the lead in promoting sustainable development policies that add social and economic value,” Gold Fields chairperson and director of Anglo American Dr Mamphela Ramphela said during her keynote address at the Mining Indaba’s session on sustainable development.

In Ramphela’s view the call for resource nationalisation has evolved into a tidal wave that threatens the viability of the industry. “Every week there are new proposals on mining taxes, environmental obligations, indigenisation measures or other regulations being imposed on the industry somewhere on the globe.”

Ramphela also decried the seemingly never-ending list of demands in South Africa from government, labour and the community: “As we speak – with the budget around the corner – South Africa is looking at imposing a new carbon tax while talk of windfall taxes and nationalisation refuses to die down. The Mining Charter – the cornerstone of South Africa’s regulation of the industry – is being mired in controversy about what constitutes actual black economic empowerment ownership of the industry. The certainty that we thought we had established and the trust we believed we had entrenched in markets, is under threat.”

Blaming the industry for its narrow and cynical interpretation of BEE, she says industry players have reduced the policy to a points system that rewards BEE ownership at the expense of critical issues like economic development of mining communities; training and skills development, particularly for the youth in these communities; and the economic welfare of employees. “Even the BEE ownership programme itself is skewed towards investment companies and wealthy individuals who have no direct interest in the well-being of communities and employees.”

Touching on the global economic crisis, Ramphela pointed out that recent events threaten to unravel the faith and trust people have in the current dominant economic system.     “While the structural challenges are complex and will require time to fix, maintaining trust is a somewhat easier task if we can demonstrate that the corporate sector does indeed offer value beyond the bottom-line.”

She called on mining companies to do a lot more to entrench sustainability in their  operations, as that is the only way in which mining companies can mitigate against further regulatory interventions by governments.

“We need to demonstrate the unique ability of the private mining sector to create innovate approaches, products and organisational mechanisms that can leverage economic value to the benefit of communities. I would like to see a situation where a mining company comes into a community and starts to sow these sustainability seeds from the initial exploration stage of a project  right through to the eventual and inevitable mine closure.”

In her concluding remarks, Ramphela stressed that sustainable development implemented effectively has the potential of rewarding not only the communities within which mining operations exist, but also the industry itself: “We need to do all this to secure the future of mining. We need to do this because we are better equipped than government to provide innovative solutions to investing in local communities and the creation of local economic development. I have no doubt whatsoever that when it’s done right, mining brings social and economic benefits to local communities and host governments. I have seen this in evidence at many of the companies I engage with. But I also know that the industry needs to do more to become the development partner that these communities and government are looking for.”

Ramphele’s comments were delivered to the 2012 Investing in African Mining Indaba Sustainability Day. The Sustainability Day is hosted in partnership with Mining Indaba and the International Council on Mining and Metals.

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About Mining Indaba LLC

Investing in Asian Mining Indaba is presented by Mining Indaba, LLC, the organiser of the world’s largest investment African mining event. Mining Indaba LLC has partnered with South Africa and other African nationals for more than 18 years to channel billions of dollars of foreign investment into African mining. For more information, visit www.miningindaba.com.

7^th February 2012

Cape Town

Speaking at the 18^th Investing in African Mining Indaba, Trevor Manuel, Minister in the Presidency for the National Planning Commission, emphasised that the South African mining industry is a key platform on which Vision 2030 can be built, in the same way that the South Koreans used the agricultural industry to catapult their economy to the knowledge space.

Vision 2030 is a government initiative that seeks to have eliminated poverty and eliminated inequality by 2030.

Addressing a gathering of investors and media, Manuel made it clear that whilst the ANC had commissioned a study on the mining industry, nationalisation was not an option, adding that the President, the Deputy President and the Minister of Mineral Resources Susan Shabangu have expressed government’s position on the issue. According to Manuel, there could not be a much more ringing statement on the matter than Shabangu’s unequivocal “There will be no nationalisation in my lifetime” at the previous Mining Indaba.

Manuel also made it clear that the Mineral Petroleum and Resources Development Act gives effect to the Freedom Charter clause that says the mineral wealth of the country shall be transferred to the ownership of the people as a whole.

However, said Manuel, for the industry to support Vision 2030, a lot still has to be done, including full acknowledgement by the industry of its complicit role in entrenching and supporting apartheid. “This legacy shapes the pessimistic view that people have of the industry, and feeds into the belief of a sunset or an uncaring industry. We have not managed the contradictions of our industry as well we should have.”

Even though the mining industry’s contribution to the country’s GDP has declined significantly over the last few years, it still has a big footprint in the South African economy and therefore has a critical role to play.

However, this is a future that will demand a compact between labour, government and the industry, which should include the creation and development of a new skilled and educated cadre of mining employees. They should have the ability to take the industry forward with the requisite technical skills to add value to the mineral resources mined in the country.

“How do we realise the Vision for 2030 using the skills, infrastructure and resources to build the kind of South Africa we all envision? We need a more labour-absorbing and dynamic economy that creates jobs. Mining is the industry that will drive that change. We have a joint responsibility of coming up with a distinct South African solution to address the needs of the industry,” Manuel explained.

The government had a responsibility to ensure that the industry enjoys regulatory certainty in terms of the tax regime, security of tenure and carbon emissions, amongst other issues.

Manuel also said South Africa should be re-established as the centre of excellence in mining technology.

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February 8 2012

In recognition of the critical importance the South African government places on education, the Investing in African Mining Indaba has decided to make a positive contribution to the welfare and careers of two deserving South African students from poor backgrounds, and who are committed to pursuing a career in mining. Accordingly the Indaba will be contributing U$US$10 000 to each deserving student at Wits University and Pretoria University respectively.

Speaking during the 18^th edition of the annual conference in Cape Town, Mining Indaba MD Jonathan Moore said: “In our  efforts to continue supporting both Africa and our host country, we are proud to announce the first grant of two annual scholarships to empower local university students pursuing a career in mining.

“These scholarships are a further affirmation of Mining Indaba’s commitment to the betterment of the mining industry in Africa, and we are very pleased to be initiating what promises to be a very proud tradition.”

Discussions with the respective Schools of Mining at the two institutions are at an advanced stage.

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About Mining Indaba LLC

Investing in Asian Mining Indaba is presented by Mining Indaba, LLC, the organiser of the world’s largest investment African mining event. Mining Indaba LLC has partnered with South Africa and other African nationals for more than 18 years to channel billions of dollars of foreign investment into African mining. For more information, visit www.miningindaba.com.

February 8 2012

The world’s largest mining investment event, the annual Investing in African Mining Indaba, is now extending the successful business conference to Asia. Investing in Asian Mining Indaba will be held from October 29-31 2012 at the Marina Bay Sands, Hotel Singapore:  www.AsianMiningIndaba.com

Investing in African Mining Indaba CEO Jonathan Moore says the Singapore event will use the South African event as a template.  “The event in Malaysia will be the same as the Cape Town event in terms of look and feel, but with an added unique Asian flair. The  focus of the event will be on the Asian mineral assets,” Moore explained.

Kobus van der Wath, founder and Group Managing Director of The Beijing Axis, and advisor for the African and Asian Mining Indaba, says: “The move signals that Asia matters for the world, which is why some of the major mining companies have established regional hubs in Singapore. The region is at the centre of the trade route for mining products from all over the world. Singapore is located between Africa and Australia, two major global mining markets, and the Malaysian government is proactive in developing the resources sector.”

The exponential increase in demand for natural resources from India and China is driving the need for more mining opportunities in the region. “Asia is ripe for a business conference platform like the African Mining Indaba. Unprecedented demand for iron ore, coal, uranium and other natural resources further augment the importance of stimulating more mining activity in the region. We intend to achieve the same goals as we began achieving with Africa more than 18 years ago, and that is to channel foreign investments into Asian mining to help meet these supply challenges,” explains Moore.

Investing in Asian Mining Indaba will be an annual professional conference dedicated to the capitalisation and development of mining interests in Asia. The event will attract the most influential stakeholders – including financiers, investors, international mining houses and Asian government delegations – vested in the Asian mining value chain.

“Being the leader in its domain, the Mining Indaba global brand ensures an impressive gathering of investors, key mining companies, and government delegations from the continent.  Asia has long been waiting for a business networking event that is of the calibre of Mining Indaba to bring awareness and the necessary investments to fuel mining activity in the region. Asia cannot be ignored,” say Van der Wath.

“We are taking African magic to Asia,” Moore concluded.

All participants must be registered and require a badge to access any of Investing in Asian Mining Indaba’s event activities. Pre-registration is highly recommended for all professionals interested in attending. We invite all individuals to subscribe to our mailing list for exclusive notifications of special pre-conference registration offers. To learn more about Investing in Asian Mining Indaba refer to the website at www.AsianMiningIndaba.com.

[Note to Editors:] Investing in Asian Mining Indaba is open to qualified members of the press. All press registrants will be required to apply for press accreditation. Please subscribe to our event updates to stay informed of press registration requirements and commencement date.  Visit www.AsianMiningIndaba.com for details.

About Mining Indaba LLC

Investing in Asian Mining Indaba is presented by Mining Indaba, LLC, the organiser of the world’s largest investment African mining event. Mining Indaba LLC has partnered with South Africa and other African nationals for more than 18 years to channel billions of dollars of foreign investment into African mining. For more information, visit www.miningindaba.com.

8th February 2012

Cape Town

Minister Susan Shabangu provided a comprehensive overview of the state of the South African mining industry when she delivered her official opening address at the Investing in African Mining Indaba. As expected, the minister sought to create clarity on regulatory issues.

“In the midst of this debate about nationalisation, we have consistently maintained that nationalisation is not the policy of the ANC or the government. When all is said and done, the ANC will adopt a policy position on this issue that is in the best interests of South Africa.” Shabangu argued that that the industry’s intransigence towards reformation created a fertile ground for the nationalisation debate to arise.

“Were it not for the mining industry lagging behind in terms of implementing the provisions of the Mining Charter, the Mineral Petroleum and Resources Development Act and fronting amongst others, this debate would not have been there in the first place.”

The Minister expressed her delight that the ANC’s Task Team on nationalisation has vindicated her views and the ANC’s earlier decision that nationalisation is not a viable policy for the country. “This is not a surprise. It demonstrates the consistent but pragmatic policy that has guided the ANC over many decades, including the period of the adoption of the Freedom Charter in 1955 and, even more recently, the period after 1994.”

Like her cabinet counterpart, Planning Minister Trevor Manuel, Shabangu sees mineral beneficiation as a critical component of the industrial and economic development of the country. “It is the vehicle through which South Africa’s resource-based comparative advantage can be transformed into a national competitive advantage. To this end, a beneficiation strategy has been developed to maximise the returns from the exploitation of our mineral resources.

“The beneficiation policy identifies: iron ore and steel, energy, autocatalytic converters and diesel particulates, titanium, and the jewellery value chain. The first two of these are complete, and we are in the process of finishing the final three.”

The Minister pointed out that this strategy does not intend forcing “mining companies into being manufacturers, but rather to address the challenge of the inaccessibility of our raw materials as an impediment to greater local beneficiation.”

Shabangu confirmed government will be establishing a state-owned mining company. Allaying fears that the move means government wants to be both player and referee, Shabangu said she has issued a Government Gazette “effectively levelling the playing field and ensuring that the company is regulated by the same set of rules as the private sector.“

Shabangu appealed to the industry to adopt a Pan African approach. “We are part of the African continent and it is very much in our interest to contribute to realising the ‘Africa Mining Vision’. This gathering has the potential to trigger a quantum leap forward in respect of developing the African minerals and mining industry.”

Echoing the Minister’s sentiments at the same event, Rio Tinto Chief Executive Douglas Ritchie said Africa forms a key element of the company’s growth strategy.

“Just last week we doubled our stake in Richards Bay Minerals to 74%,” Ritchie said.

Norilsk Nickel chairman Vladimir Strzhalkovsky pointed out that it is sensible for investors to look favourably at the possibility of investing in the South African mining industry, because the country enjoys rich mineral resources, low country risks, favourable conditions for foreign investment, and presents good export and import opportunities.

“South Africa offers access to developed markets for contractors and engineering services, developed financial institutions, modern infrastructure, and highly skilled managerial and technical personnel,” said Strzhalkovsky.

Cape Town 6 February, 2012, This year pre-registered 7,200 delegates have registered to attend the 18th annual Investing in Africa Mining Indaba, which is an increase of 20% or 1,200 more delegates, compared to the previous year. The event, which takes place from the 6th to the 9th February, has also attracted 130 media representatives from all over the world.

More than 40 African and non-African government delegations have also been confirmed to attend.

The conference will be addressed by leaders  in the global mining industry and government leaders, including  Mamphela Ramphela and Nick Holland, chairperson and CEO respectively of Gold Fields; Trevor Manuel; Minister in the Presidency for the National Planning Commission  and Susan Shabangu, Minister of Mineral Resources amongst others.