#MiningIndaba2020: Mantashe on self-generation, Mining Charter deadline & greater cooperation among African countries

The 26th edition of the Investing in African Mining Indaba 2020 has brought together key players in the mining industry to discuss crucial issues affecting the sector in South Africa and across the continent. One of the prominent figures at the event was Gwede Mantashe, the Minister of Mineral Resources and Energy in South Africa. In an exclusive interview with CNBC Africa, Mantashe highlighted the importance of collaboration and unity among African countries to avoid a 'race to the bottom' in terms of investment incentives. He stressed the significance of long-term vision and black economic empowerment to drive sustainable growth in the economy. Mantashe expressed optimism about the current state of affairs and the potential for impactful deals to emerge from the event. A key theme that emerged from Mantashe's interview was the need for greater cooperation and alignment of policies among African nations to create a conducive environment for investment. He emphasized the importance of avoiding short-sighted measures like offering tax breaks over the long-term benefits of empowering black economic participation. Mantashe's call for unity and collaboration sets the stage for a more cohesive and sustainable approach to mining across the continent. Three key points were raised during the interview that shed light on critical issues facing the mining industry. Firstly, Mantashe discussed the advancements in the energy sector, particularly around self-generation and the push to address the ongoing power crisis in Africa. He highlighted the need for collaborative efforts to resolve the energy challenges faced by economies on the continent. Secondly, the Minister addressed concerns raised by mining companies regarding red tape hindering their projects. Mantashe encouraged a positive outlook and proactive engagement to overcome regulatory obstacles and drive mining stability. Lastly, the impending deadline for compliance with the mining charter on March 31st was discussed. Mantashe reassured that miners are prepared for the deadline and emphasized the importance of compliance for license renewals. In response to questions about the perceived challenges of the Labor Relations Act amendment, Mantashe underscored the importance of respecting workers and treating them as valuable contributors to wealth creation. He emphasized that workers deserve fair treatment and recognition for their role in converting investments into tangible outcomes. Mantashe's stance on labor relations reflects a commitment to upholding worker rights and ensuring a balanced approach to labor practices within the mining industry. In conclusion, Mantashe's insights at the Mining Indaba 2020 underscore the significance of collaboration, regulatory compliance, and worker empowerment in driving sustainable growth in the mining sector. His call for unity and long-term vision sets a positive tone for the future of mining in Africa, signaling a shift towards a more inclusive and equitable industry landscape.