May 25, 2018 Last Updated 11:11 AM, May 23, 2018

Mining Indaba 2018 – Day two round-up

Indaba ABN 1joomlaABN - The show went on today as the global mining community mingled in Cape Town during the second day of events at this years Investing in African Mining Indaba.

Key themes during day two included sustainable development and women in mining:

 

Female leaders from African mining sector gather to discuss challenges

A group of women leaders in the National Union of Mineworkers (NUM), Ghana and Mali met to discuss the challenges faced by females in the mining industry and how to overcome them.

The conversation centred around closing the gender gap in artisanal and small-scale African mining, with the group concluding that greater collaboration with large mining corporations and hosting mentorship programmes for small scale women miners are two key factors in women overcoming the challenges they are faced with.

In another session titled ‘Gender proactive mining law and policy’ hosted by the African development bank, the prevalence of women within artisanal and small-scale African mining was discussed once again.

Stéphane Brabant of the law firm Herbert Smith Freehills said: “Women deserve dignity, anywhere in the world. Because we speak about legislation, lawyers play a critical role. They must be brave enough to speak up!”

 

SA mining industry must balance sustainability, competitiveness and transformation, says CEO

Humphrey Mathe, CEO of mining junior Tranter Resources told delegates at the Mining Indaba that South Africa’s mining sector must continue to balance sustainability, competitiveness and transformation.

“We cannot put on our blinkers while we pursue one or the other in isolation,” he said. “We must seek to ensure growth and sustainability in the mining industry and that means all three key elements of sustainability social, economic and environmental must be fulfilled.”

Focusing on the role of sustainable development, he added: “We need to force the growth that is more equitable and inclusive of all South Africans, women, youth and the historically disadvantaged South Africans.

“Socially, we need to improve the health, income and living conditions of the poor majority. In terms of the biophysical aspects of sustainability, we need to ensure the equitable and sustainable use of natural resources now, and in the future.

“Sustainable development challenges in the SA mining sectors are multi-fold,” concluded Mathe.

 

Randgold CEO gives bleak analysis of gold mining sector

Randgold Resources CEO Mark Bristow took to the main stage on the morning of day two at the Mining Indaba to share his views on the gold industry and the current state of play in the African mining industry.

Bristow suggested that although the gold mining sector has weathered the post-supercycle storm and is no longer in survival mode, it still remains in a form of limbo.

“[There is] no clear sense of direction and seemingly little appetite for the kind of reinvention [that is required],” he said.

“Instead of long-term planning for value creation, companies are now fiddling with joint ventures and partnerships, which amount to little but the rearrangement of existing assets.”

The CEO also confirmed that Randgold is in talks with the Democratic Republic of Congo government and is trying to prevent the enactment of a new mining code which he feels will severely stunt growth in the sector.

Bristow labelled the laws ‘Draconian’ in a statement ahead of the industry meeting.

 Come back tomorrow for another update on day three of the Mining Indaba.

 @ABNetworkOnline

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