MINING INDABA: 'Investors have no choice. They must come to Africa'

It's Day Two of the 'Investing in Africa' 2024 Mining Indaba at Cape Town International Convention Centre (CTICC).

About 11 000 delegates from across the globe have descended on the Mother City for the four-day event.

It's a who's who of the big (and smaller) players of the African mining value chain, and this year attendees come together under the banner 'Embracing the Power of Positive Disruption: A Bold New Future for African Mining'.

Frans Baleni (Chairperson of the Executive Advisory Board of Mining Indaba) says the Indaba got off to a successful start on Monday.

"We've exceeded the numbers of last year... a good start indeed."

- Frans Baleni, Mining Indaba

"The intention was clearly to embrace technology in the mining space... but not just mining. How can we use technology to deal with other challenges? For example, policy formation, licensing."

- Frans Baleni, Mining Indaba

The mining sector remains an important contributor to the South African economy.

According to Statista, as of 2022, the industry contributed R493.8 billion to the country's GDP and employed 475 561 people.

However, the sector is not without its challenges, and the industry faces headwinds and operational challenges.

But, despite the challenges, investors keep returning.

"We've got the mineral deposita, as a Contintent, that's the first thing, so investors have no alternative, they have to come to Africa."

- Frans Baleni, Mining Indaba

"It's important for the investors to say, we are here, we bring our money, we must find solutions."

- Frans Baleni, Mining Indaba

Baleni details how the 30-year-old Indaba has grown, explaining that when it first started visitors numbered in the hundreds.

"Today, it's 11 000... so it means there is a need to find a solution to any challenge experienced in mining in Africa."

- Frans Baleni, Mining Indaba

Scroll up to the audio player to listen to the interview.