Subdued Mining Indaba

first_imgThis year’s Mining Indaba in Cape Town has closed. While it was subdued, not surprising in this downmarket, important business was done. One thing is pretty much certain, there will always be a gathering of mining people in the Cape in February each year.As usual, many more were around in Cape Town than actually registered for the Indaba. But those that participate in the ‘outdaba’ are well aware of the value of the Indaba. It brings the mining people into this great city and is the foundation on which so many meetings and deals are built.Warren Beech, Head of Mining at Hogan Lovells commented: “In 2015, the mood at the mining Indaba was generally depressed as the industry came to grips with what was then believed to be the worst position that the industry could be in. Things of course got worse and conversation turned to whether, and when, the industry would reach the lowest point, and then recover.“The mood at this year’s mining Indaba, in contrast, has been subdued – stakeholders seem to have accepted the reality of the situation and are looking at ways in which assets can be preserved in such a way that the next upswing in commodity demand  can be exploited in the quickest time possible.“The Minister (South Africa’s Minister of Mineral Resources) seems to have taken into account the voices of a range of stakeholders in the industry and has committed to addressing preservation of jobs, finalising changes to the Mineral and Petroleum Resources Development Act, settling the dispute regarding Black Economic Empowerment and in particular, the ‘once empowered always empowered’ debate, Mining Charter 3, and heeding the call for improved  health and safety”.last_img