As markets get ready for a festive season slowdown and celebrations for a new year and new decade, the continent’s mining industry has an opportunity to reflect on the gains and losses of the past year. Some countries like Guinea have fared well from efforts while others such as Ethiopia continue to suffer disappointment.
Government policy and sovereign risk remain key influencers on whether investment in a particular country is seen as attractive.
Dollars follow investment attractiveness, which in turn can be used to help fund new projects.
To everything there is a season. Sometimes projects get up, move forward, send wealth into the world. Platinum, gold, copper.
Other times sectors shrink, industries flag and money disappears from the pool.
To everything there is a season. As the iconic 60s song goes, things can Turn! Turn! Turn!
A dying sector can be revived as project ideas are given new life. Struggling economies can turn, turn, turn.
As we head into the festive season, let’s turn our attention to the future. Let’s commit to change at local, regional, national and international level and get things moving forward for the benefit of everyone.
A new decade in 2020 brings the opportunity for a fresh look at the way the mining industry interacts with communities and governments, so let’s enter the decade with open minds.
Mining Indaba in Cape Town in early February will be a good chance for the industry on the continent to examine how it can go about achieving these aims in 2020 and for the next 10 years.
- Yolanda Torrisi is Chairperson of The African Mining Network and comments on African mining issues and the growing global interest in the continent. Contact: firstname.lastname@example.org