Staff Writer
Joburg Indaba chairman, Bernard Swanepoel, says South Africa’s mining industry needs a renewed sense of purpose.
“We need a globally competitive industry. For panellists, a key constraint for the mining industry in South Africa is policy uncertainty,” he said at the Joburg Indaba, asking attendees how to “keep the faith in the mining industry” without fake optimism.
Several hundred CEOs, investors, and policymakers gathered at the 13th annual Joburg Indaba, held last week at the Inanda Club in Sandton, Johannesburg. The event was hosted by Resources 4 Africa in collaboration with Thinkspiration.
Duncan Wanblad, CEO of Anglo American, said, “There are a whole lot of uncomfortable truths. South Africa is underexplored today because it has had really unsupported policy for exploration for the last 20 years. That is really important in a mine’s life cycle. We are behind the curve.”
He added, “We need very strong leadership and policy. Absent that policy, it will be very difficult to invest.”
Wanblad noted that while he remains optimistic, he acknowledges the challenges. “I am optimistic. But I do have a healthy dose of realism. We have challenges. We know what they are [but] we have a strong coalition of the willing.”
Industry executives highlighted several key issues affecting the sector, including logistics, energy, and the non-functional cadastral system.
Paul Dunne, President of the Minerals Council South Africa and CEO of Northam Platinum, said the cadastral system is a crucial lever. “It is critical for mining companies and investors to have a pragmatic, stable regulatory environment,” he said.
He added that the Minerals Council has submitted its concerns on the Mineral Resources Development Bill and is actively engaging in the consultation process.
“The Council will not relent in advocating for the best environment. We are fully engaged with the government on the legislative issues, including the bill and the chrome export tax issue.”
Richard Sellschop, senior partner at McKinsey & Company, said South Africa is losing ground as a mining destination, while Saudi Arabia and Zambia are gaining due to improved regulation, policies, and streamlined permits.
Richard Stewart, CEO of Sibanye-Stillwater, expressed support for collaboration in promoting the industry, including partnerships with downstream players.
Nolitha Fakude, chair of Anglo American South Africa, said, “We are hoping going forward we will see more of an integration and alignment in policies to support mining. In mining, we have to navigate five to six departments; it requires tenacity.”
She added that the country needs to define its goals. “On infrastructure, we have to continue to build and strengthen. This can happen with partnerships and collaboration, which require us to be honest with each other.”
Caption
Duncan Wanblad
- Photo: Anglo American
