On June 24-26, I had been in London attending Mining on Top Africa: Sharing the Commodity Boom. The summit was organized around two primary themes; attracting investment to Africa and sustainable mining in Africa. Delegates representing the mining industry, NGO's, financial institutions, governments and various service providers discussed and debated these topics in panel presentations and round tables that provided a format for open exchange.
The first day began with ministers from Cameroon, Ghana, Kenya, Rwanda, South Sudan and Zambia giving overviews of the minerals, infrastructure, business environment and political situation in each of their countries. They described the tremendous potential mineral wealth in Africa as well as the opportunity for investing in world class deposits at all stages of development. A common theme was the desire to develop mineral resources in a sustainable way that creates long term benefits for communities and provides a catalyst for all types of economic development. We also learned that there are evolving social dynamics in Africa and that communities are demanding transparency as well as direct economic benefit from their mineral resources.
The discussion also centered on the reality that none of this can happen unless companies are profitable. This led to conversations about the risks (I.e. corruption, high capital costs, political instability) and challenges (I.e. lack of infrastructure, resource nationalism) of doing business in Africa. Industry representatives stated that the only way to be successful (profitable) is to integrate SD principles in the business operations. Several case studies demonstrating the industry's commitment to making profits within the context of sustainable development and ethical business practices that meet the highest standards were presented. For example deBeers spoke about conflict diamonds and the industry driven Diamond Development Initiative. Other companies shared their experiences with long term capacity building and investment in local communities through infrastructure projects (roads, hospitals, power).
Over the two days many perspectives of the issues around mining in Africa were frankly and intelligently laid out. It was remarkable to see a group of people that are passionate about their respective and sometimes divergent points of view come together to solve the wide ranging social, environmental and economic challenges that often arise around mining operations. The summit provided a neutral environment for tackling these important issues. The discussions were serious and collaborative and delegates came away with a better appreciation for all points of view. There were also many issues identified and tabled for further debate and discussion in June 2014 when the second MOTA summit will convene in London.
http://miningontop.com/africa/