Press release
The low-carbon economy of the future depends on mining and, in turn, the future of mining depends largely on the exploration and discovery of new mineral deposits. The African continent remains a treasure trove of green metals and minerals, with large reserves of platinum, cobalt, chromium and other battery metals. Despite this, Africa lags far behind when it comes to spending on exploration, making it the last continent rich in unexploited minerals.
Mining Indaba 2024, taking place in Cape Town from 5 to 8 February, will host an exciting new ‘Disruptive Discussion’ roundtable on Monday 5 February, entitled ‘Africa exploration pipelines – why so empty?’ This highly anticipated session, which is a first of its kind, will look at how we can tackle the main barriers to exploration spending on the continent, such as political instability, security concerns and lack of data transparency. It will also look at the radical changes needed for Africa to meet global demand for minerals essential to the planet’s green transformation and give an overview of which African countries are challenging the trend of limited exploration and why.
Africa holds 30% of the world’s mineral reserves, and by 2022 will account for less than 10% of global mineral exploration spending. According to S&P Global World Exploration Trends 2023, exploration allocations on the continent have increased by 11.6%, less than the world average. Africa’s vast unexplored mineral wealth makes the continent all the more crucial in the race to secure the supplies needed to decarbonise and meet global demand for essential minerals.
“The race is on to secure essential minerals that contribute to the overriding need to build a low-carbon economy. Disruptive conversations about how to open the doors to exploration in Africa are a key feature of Mining Indaba 2024. We will have strong representation from government leaders and investors, all bringing their ideas to support the development of critical minerals industries on the continent. Importantly, our discussions will focus on how Africa can make the most of its minerals for sustainable development while contributing to global needs,” says Eve Harper, Indaba’s Investing in Africa Mining Portfolio Director.
The list of high-level speakers for this session includes Junior and Emerging Miners Leadership Forum president, Orion Minerals CEO and Minerals Council board member Errol Smart, Kobold Minerals co-founder and president Josh Goldman, Ivanhoe Mines president Marna Cloete and De Beers Group CEO Al Cook. The round table will be moderated by Sonia Scarselli, president of BHP Xplore.
The Exploration Roundtable follows the highly successful launch of the Explorers’ Showcase, which was introduced at Mining Indaba 2023. This initiative aims to highlight exploration and stimulate investment in early stage African mining. The Explorer’s Showcase will return at Mining Indaba 2024 to highlight the exploration and early stage development of mining companies with assets across Africa.
Prospectors will be able to access an elite network of dealmakers who will help them raise finance or find the right partner to take their project forward. With the support of BHP Xplore, unlisted and listed private mineral exploration companies with a market capitalisation of up to 25 million dollars will be showcased at the heart of the Mining Indaba exhibition.
About Investing in African Mining Indaba
Investing in African Mining Indaba is the largest mining investment event in Africa. It has a proven track record of bringing together ministers, senior government officials, mining companies, small and medium-sized mining enterprises, investors, professional services and suppliers of mining equipment and services. Mining Indaba is the place to meet all the players in the African and global mining industry.
It is the must-attend event that drives the mining industry forward and offers attendees unrivalled access to the entire value chain and the most influential players in the African mining industry over four days of high-quality content, deal-making and networking opportunities. Investing in African Mining Indaba 2024 will take place in Cape Town from 5 to 8 February 2024.
For media enquiries :
R&A strategic communications
Katherine Bester Sibongile Mtafu
