KEY POINTS
- Eight percent of South Africa’s GDP comes from mining, which also creates 500,000 jobs.
- Manganese export growth and record-high chrome exports demonstrate the sector’s potential.
- Since 1994, the number of mining deaths has dropped by 88 percent, and in 2023, a record low was reached.
The 12th edition of this important gathering for the mining sector started on October 2 at the Inanda Club in Sandton with the start of the Joburg Indaba 2024.
Stakeholders from the mining sector, government representatives, investors, and specialists convened for a two-day conference to deliberate on present issues and future prospects in the field of mining.
South Africa’s mining challenges and achievements
Dr. Nombasa Tsengwa, President of the Minerals Council South Africa and Chief Executive Officer of Exxaro Resources, spoke to the delegates on the first day. Tsengwa gave a thorough summary of the mining industry, pointing out that despite many obstacles, it makes a major contribution to the South African economy.
“The mining sector plays a vital role, contributing approximately 8 percent to the GDP and providing an estimated half a million direct jobs,” Tsengwa stated. She emphasized the strong performance of chromium, which saw record exports in 2023 and is predicted to expand even more this year.
According to Mining Review, she also pointed out that the production of manganese has increased by 3.9 percent annually, and that other minerals have grown significantly even though the production of gold has had difficulties.
Tsengwa also highlighted the mining industry’s improved safety record. “South African mining has been more safer in the previous thirty years. Mining deaths have dropped by 88 percent since 1994, with a record low of 55 in 2023, according to her.
She credited the industry’s culture shift toward a “zero harm” mentality, together with leadership responsibility and safe mining techniques, for this advancement. Tsengwa cautioned that if safety is not continuously given first priority, these gains could be quickly reversed.
Future strategies for sustainable mining growth
Talks about the future of mining in South Africa as the Joburg Indaba entered its second day focused on sustainable growth tactics and innovations to adjust to a fast changing global landscape.
The necessity for industry resilience in the face of issues including shifting commodity prices, the drive toward decarbonization, and unpredictability in the world economy was underlined by stakeholders.
The conference also examined how the sector may promote local job creation, community development, and environmental stewardship to accelerate economic transformation.
The speakers urged increased cooperation between the public and commercial sectors to establish a climate that supports long-term expansion and technological innovation in the mining industry.
