The annual African Mining Indaba took place this past week in Cape Town, South Africa. Here are the highlights.
Mining Indaba 2019
Cyril Ramaphosa was a keynote speaker at the event. In his speech, he made a few key points:
- Electricity supplier Eskom would be split into 3 entities, Generation, Transmission and Distribution – under Eskom Holdings.
- In a bid to get more young South Africans working, the public sector will no longer require entry-level work experience. “Our young people need to be given a real head start in the world of work,” Ramaphosa said.
- The government will begin issuing a “world class” eVisa regime in 2019. Instead of applying for a South African visa at an embassy, prospective visitors will be able to apply for an eVisa online and the final visa can be printed at home. This will encourage a growth in the South African tourism industry.
- The country has been buzzing after the discovery of the Brulpadda field, raising many concerns. To quell them, Ramaphosa said the government will develop legislation to ensure that it is properly regulated for the interests of all concerned.
- Ramaphosa also outlined 10 value principles that mining companies should strive to achieve. One is the need to foster inclusive growth in the areas where companies operate. Another principle highlights the need for companies to partner with local governments to improve infrastructure. Ramaphosa also calls for companies to see investment in the living conditions of their workers as more than a regulatory obligation. These value principles all point to the need to focus on institutional strengthening and bettering the lives of all involved in the mining chain.
Need for exploration
Something that was repetitively emphasized by many throughout the Indaba was the need for greater exploration in Africa.
De Beers is responding for this with their announcement that they will invest R30m in diamond exploration in Africa.
The London Bullion Market Association (LBMA) announced their new standard that addresses environmental as well as sustainability issues in
gold and silver markets. These standards are expected to encourage greater ethical gold and silver mining.
What do you think of these highlights? Let us know in the comments below!