MINING INDABA 2023 A MASSIVE SUCCESS

By Benjamin van der Veen

Since 1994, the Investing in African Mining Indaba has been the place for deal sourcing and corporate matchmaking for the African mining industry. It has been the most comprehensive investment, finance, innovation, and transformation gathering, one that supports end-to-end value creation.

Mining Indaba continues to drive the economic and sustainable development of Africa and the mining sector. Below is a summary of what happened at the 30th anniversary of the event.

Presidential Addresses

The Indaba hosted South African President Cyril Ramaphosa and Democratic Republic of the Congo (DRC) President Félix Tshisekedi. The two discussed strategies on how to grow their two countries’ economies through the mining industry.

Ramaphosa said mining had been the “bedrock of African economies for millennia” and was a critical aider in “development and industrialisation across the continent”. He also said there was a long way to go until Africa’s mining sector reached its full potential, citing the current obstacles holding it back.

These included power shortages, illegal mining, and logistical problems stemming from issues with rail and port services, which Ramaphosa said made for a less favourable economic forecast for 2023.

However, he outlined a plan of action to tackle these and other issues to pave the way for the growth of African mining.

Meanwhile, Tshisekedi emphasised the need for a focus on green metal exploration and announced the imminent commencement of new nickel and chrome exploration projects in the DRC.

Esg Demanded In Critical Minerals Mining

The United States (US)-led Minerals Security Partnership (MSP) members and key minerals-rich countries held a vice-ministerial meeting on 7 February in New York to discuss priorities, challenges and opportunities in responsible mining, processing and recycling critical minerals.

MSP partners participating in the meeting included Australia, Canada, Finland, France, Germany, Japan, Italy, Korea, Norway, Sweden, the United Kingdom, US and European Union. Additional countries in attendance included Angola, Botswana, the DRC, South Africa, Tanzania, Uganda and Zambia.

MSP partners announced support for several principles for a shared commitment to high environmental, social and governance (ESG) standards. This announcement was made at the Indaba conference.

This marks the public commitment to fully integrating ESG standards into the MSP’s work, intending to achieve an equitable and just energy transition. The MSP will support socially responsible projects that meet recognised international ESG standards.

Under these basic principles, the MSP will support projects demonstrating responsible stewardship of the natural environment, and those engaging in consultative and participatory processes concerning land access and acquisition.

Esg Award Winners

The Mining Indaba Sustainability Committee handed out several ESG awards in various categories to organisations that had demonstrated an outstanding commitment to incorporating ESG into their companies’ frameworks and sustainability.

The 2023 edition of the Mining Indaba witnessed many mining companies claiming ESG among their top priorities.

THE WINNERS INCLUDE:

GEM DIAMONDS LIMITED, WINNER OF THE JUNIOR ESG AWARDS FOR WATER 2023

This British-based international company, which owns diamond mines in Botswana and Lesotho, was recognised for its dedication to water sustainability, ensuring local communities close to its mines have access to clean water. This involves ensuring the quality of water leaving its mines, recycling water on-site, and other sustainability approaches.

AKOBO MINERALS, WINNER OF THE ESG NATURE AWARD 2023

Akobo Minerals is a Scandinavian-based Ethiopian gold exploration and boutique mining company. It was acknowledged for its ESG-centred activities programmes, which its CEO states are on a “community, country and global level”.

BANNERMAN ENERGY, WINNER OF THE JUNIOR ESG AWARD FOR COMMUNITY ENGAGEMENT

This Australian mining development and exploration company, a 95% stakeholder in the Etango uranium mine in Namibia, took the award for its Early Learner Assistance programme in Namibia, which benefits communities in the region.

FORMER ESKOM CEO APPLAUDS COALTO-RENEWABLES INITIATIVE

André de Ruyter, who recently resigned as Eskom’s CEO, sat for a fireside chat on the second day of the Mining Indaba with Roger Baxter, the outgoing Minerals Council South Africa CEO. De Ruyter commended a coal-to-renewables initiative by Seriti Green, a subsidiary of Seriti Resources. Seriti Green, a 91% black-owned and -controlled South African company, is constructing a 900MW wind farm that will be used to power Seriti Resources’ coal mines, with the aim of lowering the carbon footprint of the company’s operations.

Not only does this initiative work to decarbonise coal mining, but it does so while providing coal for Eskom’s power stations, which have been struggling for years to meet the country’s power demands.

De Ruyter and Baxter concluded in their discussion that the country needs greater power capacity, as has been the case for decades.

Sustainability And Development

On 7 February Mining Indaba held a Sustainability Day involving talks on everything from sustainability governance to circular economy, communities, and more.

Ivanhoe Mines founder and CEO Robert Friedland told the Indaba that renewable energy capacity would increase by 8% to 320GW this year. He spoke to guests at an event themed on the comment of former US president John F Kennedy, who said the moon launch was being undertaken “not because it was easy, but because it was hard”.

With increasing levels of opportunity within the infrastructure development space, solutions-driven infrastructure development firm Bigen Group outlined its strategy, which is focused on expanding into the rest of Africa to participate in similar such projects.

Accordingly, Bigen has developed a strategy focusing on localisation, which saw regional o ices being established in Kenya, Botswana, Namibia and Ghana so that the

ESG AWARD WINNERS AT INDABA:

■ Gem Diamonds Limited

■ Akobo Mineral

■ Bannerman Energy company taps into these markets through an increased focus on providing professional services while also identifying investment opportunities.

Women In Mining Front And Centre

Women in Mining UK and Women in Mining SA (WIMSA) had a presence at the Indaba that was focused on celebrating the representation and achievements of women in the mining sector.

WIM100 women (individuals recognised as globally inspiring women in the sector by WIM) were among both the attendees and the speakers.

The managing director of Women in Mining UK, Stacy Hope, moderated an allfemale panel at the Indaba that centred on enhancing the mining value chain, through sustainable mines and the growth and retention of the female talent industry.

The 2023 Mining Indaba was a success in myriad ways, from the discussions around the serious concerns faced by the country with its power constraints, to the strong focuses on ESG, sustainability, development, and renewables, and its overarching success bodes well for 2024.