Friday , July 12 2024

Africa’s mining sector rebounds from uncertainties

With commodity prices improving and the mining industry moving towards positive growth, indications are that participants at the Investing in African Mining Indaba 2018 will experience the “return of investor appetite” first-hand, says Mining Indaba Managing Director Alex Grose.

This renewed investor interest suggests that the African mining sector is likely to benefit from increased investment this year.

Dr Kojo Busia, African Minerals Development Centre (AMDC) acting coordinator said that improving economic conditions globally are providing momentum for the mining industry in most African countries.

“Investments have been growing at a sustained rate, as commodity prices have stabilised.”

He said investment decisions require information that is as comprehensive and as accurate as possible.

“The Mining Indaba remains the pulse of the mining industry in Africa because it gauges governments’ policy orientation and trends in the industry,” said Busia adding that it is crucial to ensure proper planning and forecasting from all stakeholders.”

Grose points to political and legislative changes in many African States, noting that investors have a greater need to understand the risks and opportunities involved in investing in African jurisdictions.

“We have over 25 African Ministers at the event. Obviously . . . Tanzania, Zimbabwe and South Africa are top of mind at the moment, but there is a lot of interest in the rest of the continent.”

He highlights that the conversations that take place between the various stakeholders at the Mining Indaba are vital to the development of the African mining sector.

“If we get these conversations right, it could mean billions of dollars of investment heading to Africa.”

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