Senior Government Officials
Ladies and gentlemen
On behalf of the people of South Africa, I extend to you all a warm and hearty welcome as we convene for the 13th annual Mining Indaba Conference here in Cape Town. It is apt for me to congratulate the organisers of this conference, the IIC, for continuing to successfully facilitate this level of knowledge and information exchange among stakeholders in the mining industry. I am pleased to see my counterparts from other parts of the continent as well as local and international participants at this critical juncture in the mining industry.
The past few weeks have been characterised by global economic instability, which is being underpinned by news of the looming economic recession in the USA. The mining industry has not been immune to this development, although we view this development as a short-term correction and believe the fundamentals remain in place for a prolonged demand growth for the bulk of the mineral commodities.
The African Economic Reforms
Since the late 1970s, the African countries have been in search of a policy framework to guide a continent wide fundamental socio-economic transformation that would enable them to overcome the pervasive structural weaknesses. It was not until the last decade or so, that African countries undertook economic reforms to invigorate their respective economies through positive development philosophy. Continue Reading →