Mining Indaba is more relevant in bust than in boom – MD

CAPE TOWN – The mining crisis and subsequent job losses in the industry might have had an impact on the number of delegates at the Investing in African Mining Indaba in 2016, but the dialogue between key leaders at the event meant this year’s event carried greater weight than other years.

That is according to Mining Indaba MD Jonathan Moore, who told Fin24 on Tuesday that the event is still the largest mining investment event in the world.

The 6 000 delegates attending the key investing meeting is down from 7 000 in 2015.

“We are to a degree a microcosm of what’s happening in the market place,” he said. “If we look at the realities of where the sector is, it’s no surprise that the Indaba has fewer participants.

“You look at the hallmark companies who have supported us for 20 years and they are experiencing their most challenging times.”

A key sponsor, Anglo American announced in 2015 that 85 000 people would lose their jobs as the company sells assets and closes various mines.

“Platforms like this work differently at different times in a cycle,” said Moore. “So, at this time, a platform like Indaba becomes even more important, even if it’s smaller than at a time when it was larger when everything was great.

“In order for there to be meaningful dialogue to find paths forward, to resolve issues, to get down to the specific solutions to things, you need dialogue,” he explained. “You need that dialogue to take place in a forum that is conducive to generating outcomes.”

Some challenges are best dealt with on an open platform for all to engage with, while others are best dealt with when two people sit across the table from each other in a private space. “The Indaba serves a need across all of those,” he said.

“Even at 6 000 people, (the Indaba) still has got representation from the mining leaders across the globe and certainly those focused on African mining,” he said.  “The platform will continue to be a critical one going forward.”

News24.com