Strikes to dominate Mining Indaba

Industry role players will gather in Cape Town next week for the annual Mining Indaba.

Industry roleplayers will gather in Cape Town next week for the annual Mining Indaba. Picture: AFP.

CAPE TOWN - Mining industry role players will gather in Cape Town next week during a period when labour unrest and poor production figures are making investors jittery about spending in the sector.

The conference is expected to draw up to 8,000 mining industry role players.

South Africa's mining companies are facing financial headwinds.

Peter Leon, head of the mining sector group at Webber Wentzel, says labour unrest in the platinum sector is of great concern to investors.

"The fear now is that the strikes now crippling the platinum sector will potentially spread."

Workers at the world's three largest platinum producers are currently on strike.

If things don't improve, Leon says the size of the mining industry is likely to decline in the next five years.

"Mining companies will simply retrench more. Mining will become more mechanised."

These issues will be top of mind when industry executives, political and economic thought leaders gather at the Cape Town International Convention Centre next week for the annual Mining Indaba.