Joburg Indaba puts spotlight on S.African mining sector - CNBC Africa

Joburg Indaba puts spotlight on S.African mining sector

Southern Africa

by Trust Matsilele 0

Indaba is a platform where leaders from the mining and resources sectors engage in discussions. PHOTOS: Getty

The Indaba is a platform where leaders from the mining and resources sectors engage in discussions that are open, honest, and bold.

The platform also provides for a strategic conversation, limited in numbers to ensure good conversation and intimate networking.

In his keynote speech, mineral resources minister Ngoako Ramatlhodi said government welcomed this platform with passion and enthusiasm as it seeks to find solutions confronting the industry.

“The mining industry is the alpha and omega of our economy,” said Ramatlhodi.

Ramatlhodi also took the opportunity to swipe at the wildcat strikes in the platinum belt that lasted several months consequently shrinking the economy.

(READ MORE: S.Africa mines minister vows to break strike deadlock)

“Strikes are not uniquely South African, but if they run to five months then that should raise attention to all stakeholders.”

Ramatlhodi said the cost to the industry and economy has been beyond imaginable proportions.

Industry captains set to address the event include [DATA LON:Lonmin] chief executive Ben Magara, [DATA AMS:Anglo American Platinum]’s Valli Moosa, Colin Coleman of Goldman Sachs International and Peter Leon of Webber Wentzel.

This year’s conference will address sustainability in the context of globally competitive mining sector.

The ruling African National Congress’s (ANC) secretary general Gwede Mantashe is set to shed light on policy direction of the ruling party later in the day.

The ANC has been at pains to dismiss the possibility of nationalisation of minerals in the country especially with growing discontentment among its disadvantaged support base.

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