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The first Investing in African Mining Indaba conference to take place in person in two years will be an opportunity for African countries to lure investment into the sector that has remained resilient during Covid-19 amid strong demand for mining commodities.
Headlining the event will be heads of state from Zambia, Botswana, Zimbabwe and South Africa pitching opportunities in the continent’s rich precious metals and minerals seams.
President Hakainde Hichilema, who has wasted no time in targeting reforms and clamping down on corruption since taking office in August, is expected to make a “big announcement” in the run-up to the event.
In a keynote speech on Day 1 of the conference, dubbed “A New Dawn for Zambia’s Mining Sector”, he is expected to highlight the country’s huge mining potential as it moves away from his predecessor Edgar Lungu’s legacy of aggressive resource nationalism, says one of the conference organizer’s Tom Quinn.
President Cyril Ramaphosa is expected to unveil plans to transform South Africa’s massive platinum belt into “hydrogen valley”, as he positions the country as a hub in a market expected to be worth $2.5 trillion by 2050.
Ramaphosa is also likely discuss the country’s transition from coal, which supplies about 80% of its grid energy, to cleaner energy, a theme that will run deep throughout the conference, Quinn says.
President Mokgweetsi Masisi is also poised to showcase Botswana’s rich manganese deposits, demonstrating that the country has more to offer than diamonds alone. While Zimbabwe’s President Emmerson Mnangagwa will roll-out the nation’s abundant lithium mining opportunities, which could attract investors keen to ween themselves off Ukrainian lithium.
The critical minerals used in electric vehicle batteries have seen burgeoning demand as consumers in the electric vehicle battery supply chain seek longer-term contracts with producers in Africa.
A shot at Covid-19
The pandemic and its effect on mining will be another important theme during the three-day conference, particularly on the final day when African nations will seek to capitalise on higher metals prices and the transition to green energy.
“I think a lot of these experiences through the pandemic are showing how operators and governments can successfully work together for the good of communities,” Quinn says.
Ukraine crisis fallout
The crises in Ukraine and its impact on Africa is also on the agenda. Steven Fox, CEO of political risk consultancy Veracity Worldwide, will give a keynote about the fallout from the invasion and its impact on African commodities and metals.
Quinn noted that sanctions on Russian coal, diamonds and lithium could “present opportunities for Africa”, but that inflation driven by the conflict does not bode well for African debt.
US-Africa reset relations
In a shift from the last couple years, Jose W. Fernandez, U.S. Department of State Under Secretary for Economic Growth, Energy and the Environment, will travel to Indaba with a delegation in a bid to “reset relationships,” Quinn said.
The bid to re-engage with Africa’s mining sector reflects a growing domestic demand for the critical minerals which prompted the Biden administration to recently invoke Cold War powers to secure battery metals supply
Investor battlefield
The flagship investor battlefield sessions. held on the side-lines of the event, will once again be a highlight, Quinn says. Styled like the TV show “Shark Tank”, it will see pitches for new business projects brought to senior mining executives for investment.
In the brand-new Innovation and Research Battlefield portion, pitches will present innovative, sustainable ideas to the mining industry, all for a shot at winning support for research from a $28,600 grant from Anglo-Australian mining giant BHP Group and the University of Queensland.
Also up for discussion will be artisanal mining, women in mining, mining codes in different African regions and investing in communities as well as their mines.
On the side-lines, the Alternative Mining Indaba conference will also take place from 9-11 May in Cape Town, with an option to participate virtually. It will focus on bringing together community leaders, social groups and NGOs.
The conference is expected to draw 5,000 attendees, including at least four heads of state, 40 ambassadors and ministers, and countless CEOs, reflecting a thirst for information about the impact of the global energy transition, Covid-19 pandemic and Ukraine crises on the sector, which will also dominate the event, according to Quinn.
“People are really relishing the opportunity to get back to the event,” Tom Quinn, head of content for Mining Indaba. “The appetite for the industry to get back to Cape Town is huge.”
Buttressed by the recent easing of Covid-19 restrictions in South Africa, industry stakeholders and delegates are eager to meet in person once again. With proof of vaccination and a few other precautions in place, attendees should expect a return to business as usual.
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