05 Feb Investing in African Mining Indaba 2019: Day two news round-up
The 2019 Investing in African Mining Indaba continued today in sun-drenched Cape Town. On day two, delegates of the Indaba were afforded the opportunity to hear from two African heads of state – Ghana’s President Nana Akufo-Addo and President of South Africa Cyril Ramaphosa.
President Ramaphosa delivers rousing speech to packed audience
The Mining Indaba welcomed President Cyril Ramaphosa to speak at the landmark 25th anniversary event – the first time a South African head of state has delivered a speech at the Indaba.
Throughout his speech, Ramaphosa underlined the need for a collaborative approach to inclusive development in the mining industry, reiterating the message delivered by Ghana’s President Nana Akufo-Addo earlier in the day.
“We are here together on a journey of inclusive development in South Africa’s mining industry,” he said. “Today I want to say this collaborative approach means we all have tasks. I believe that in doing so we have our own responsibilities as government, companies, labour and communities.
“It is through creating shared value that we can ensure a sustainable mining industry,” Ramaphosa concluded.
West African gold industry shines through at Mining Indaba
The West African gold industry is one of the continent’s brightest sub-sectors, and this strength was advertised on day two of the Indaba. Endeavour Mining CEO Sébastien de Montessus delivered a session on the Attractiveness of Gold Mining in West Africa.
Throughout his presentation, he underlined Endeavour’s unwavering commitment to gold in West Africa. “As a key player in this region, we are so bullish about West Africa. Endeavour is emerging as the only multi-asset mid-tier West African producer,” he said.
Endeavour operates four mines across Côte d’Ivoire (Agbaou and Ity) and Burkina Faso (Houndé and Karma), which produced a total of 612,000 ounces of gold in 2018, beating the company’s guidance range of 555,000-590,000 ounces.
Eskom troubles highlighted by SA Minister of Trade
South Africa’s Minister of Trade and Industry Rob Davies told listeners at the Mining Indaba to expect tough announcements relating to Eskom in the near future.
In a roundtable discussion hosted by the Department of Trade and Industry, Davies said: “The spirit of addressing the challenges with Eskom is to grapple with the real problems and not to put these aside.
“Some announcements coming soon will show we are prepared to take the bull by the horns at Eskom and make some tough decisions. We have to make sure that, as we face these tough decisions, we can supply reasonably priced electricity to the people of SA.”
Check back to RGN tomorrow for a round-up of day three at the Mining Indaba.