The 2024 African Mining Indaba kicked off in Cape Town on Monday, with South African President Cyril Ramaphosa advocating for cooperation to tackle industry challenges.
The 30th Investing in African Mining Indaba is taking place in South Africa’s legislative capital under the theme “Embracing the power of positive disruption: a bold new future for African mining.”
The event is expected to run until Thursday, attracting 10,000 delegates, including numerous industry leaders. “Indaba,” a term from the Zulu language, signifies a serious discussion meeting.
During the opening ceremony attended by Zambia’s President Hakainde Hichilema, Prime Minister Sama Lukonde of the Democratic Republic of the Congo, and various ministers from across Africa, Ramaphosa highlighted mining’s longstanding significance to the South African economy.
He noted that the sector contributes 7.5 percent to the country’s GDP and makes up around 60 percent of its export value. Ramaphosa acknowledged the challenges faced by the mining industry, both globally and domestically, such as commodity price fluctuations, energy crises, and operational cost pressures. He pledged his government’s dedication to overcoming these obstacles through collaboration with various stakeholders and implementing measures to enhance the industry’s performance.
In outlining government objectives, Ramaphosa stressed the importance of ensuring a stable electricity supply, implementing economic reforms to enhance the operational environment, combating illegal mining activities and infrastructure damage, and improving regulatory frameworks. He emphasized the need for a collective effort involving industry players, government agencies, and social partners to achieve these goals.
Ramaphosa expressed optimism about strengthening partnerships with the industry to shape a new era for South African mining characterized by inclusivity, growth, transformation, and innovation. The Indaba, known as the world’s largest mining investment conference dedicated to fostering mining development in Africa, continues to draw global attention to the region’s mining sector.
