Tulani Ngwenya
Cape Town, South Africa – In his address at the 2024 Investing in African Mining Indaba at the Cape Town International Convention Centre on Monday, February 5, 2024, President Cyril Ramaphosa highlighted the significance of the mining sector in driving economic growth and development across the African continent. With distinguished guests including President Hakainde Hichilema of Zambia and Prime Minister Sama Lukonde of the Democratic Republic of the Congo, the event served as a platform for discussing key strategies to enhance mining operations and promote sustainable development.
President Ramaphosa began by paying tribute to the late President Hage Geingob of Namibia, recognising his leadership and commitment to advancing Africa’s development agenda. Reflecting on South Africa’s democratic journey, President Ramaphosa noted the significant transformation witnessed in the mining industry over the past three decades.
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“For nearly 150 years, mining has been a pillar of the South African economy,” President Ramaphosa remarked, emphasising its substantial contribution to GDP and exports. He highlighted the progress made in increasing black ownership in the industry, which has risen from 2 percent in 2004 to approximately 39 percent today.
Addressing historical challenges faced by the sector, President Ramaphosa acknowledged the need to overcome persistent obstacles, including commodity price volatility, energy crises, and illicit mining activities. He reiterated the government’s commitment to implementing reforms aimed at improving the business environment and enhancing operational efficiency.
President Ramaphosa outlined four key objectives to develop the mining sector and improve its global competitiveness, including securing a stable electricity supply, accelerating economic reforms, combating illegal mining, and enhancing regulatory frameworks.
“We are committed to working hard and working together to overcome these serious challenges,” President Ramaphosa affirmed, underscoring the importance of collaboration between government, industry, and civil society.
Highlighting progress in securing electricity supply, President Ramaphosa cited the implementation of critical measures to enhance generation capacity and promote renewable energy sources. He also highlighted efforts to address illegal mining activities and infrastructure damage, noting the successful collaboration between law enforcement agencies and the private sector.
President Ramaphosa concluded by urging industry stakeholders to embrace positive disruption and leverage the transition to a low-carbon, climate-resilient economy. He mentioned the pivotal role of mining in driving sustainable development and called for innovative approaches to enhance mining value chains and promote beneficiation.
“As we write a new chapter in the history of South African mining, let us ensure inclusion, growth, transformation, and innovation,” President Ramaphosa concluded, expressing optimism for the sector’s future.
The 2024 Investing in African Mining Indaba provided a platform for fruitful discussions and collaboration aimed at advancing Africa’s mining sector and fostering economic prosperity across the continent.
