WATCH: Making miners future fit

South Africa’s economy was once again saved to a large extent through the pandemic or at least cushioned by the mining industry…commodities may have recently come off the boil tanks to China’s crackdowns but t5he last 2 years have seen sustained high prices for PGM’s, iron ore, coal, manganese chrome, all major commodities we mine here in South Africa.

We have seen this trend reverse over the last few months though. Key commodity prices have rolled over. Iron ore and the PGM’s the important ones. Coal thankfully at elevated levels but Transnet woes continue to limit our export capacity

Meanwhile, oil has kicked hard. The rand oil price is back to all-time highs and coupled with elevated soft commodity prices is going to put a lot of pressure on disposable incomes.

The question is, what will and should mining firms do with the largesse they have generated to date to ensure they are future fit?

And it’s a key focus area at this year’s Joburg mining indaba

Michael Avery is now joined by Nhlanhla Sibisi, Climate and Energy Campaigner at Greenpeace Africa; Neal Froneman, CEO of Sibanye-Stillwater & July Ndlovu, CEO of Thungela Resources