Mining companies should invest in development

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South African President Cyril Ramaphosa said mining companies should invest in development where they mine and in their employees in order to make a meaningful contribution to the areas in which they operate.

He said companies should invest in the health and safety of their workers, in the infrastructure where their operations are such as roads and water, and also invest in skills and education.

These are some of the 10 principles that President Ramaphosa shared with mining captains of industry when he addressed the Investing in African Mining Indaba at the Cape Town International Convention Centre.

“We firmly believe that mining companies have the resources, the capabilities and an interest in more deliberately contributing to development, both where they are located and across society.

“Mining companies have an opportunity to create broader social value in a way that also enhances the success of their business,” he said.

The President challenged the mining industry to adopt 10 value creating principles for a more modern, successful and productive mining industry.

He said it has been shown that companies that care about the upliftment of workers and communities are more successful.

“We live in a world where people no longer want to have things happen around them without their knowledge and involvement. They want to be engaged and have their views heeded.

“Companies, government and labour must work together to create shared value and ensure the benefits of mining are more widely spread.”

The President said the industry should partner with local authorities to improve infrastructure such as water and roads in the areas where they operate. Such infrastructure is critical for the effective functioning of mines, and too often companies and municipalities do not coordinate their work or even operate at cross purposes, President Ramaphosa said.

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Bontle Moeng is the Founder and Managing Director of BizNis Africa. Moeng has spent 15 years working in the digital and online media industry across Africa. She applied her trade at True Love magazine prior to discovering her passion for Investment news in key sectors across Africa. Moeng previously worked for ITWeb, Starfish Mobile Technologies, ITNewsAfrica, AVATAR Agency, eNitiate, Global Interface Consulting and Havas Johannesburg. Her primary focus is to provide solid and valuable content on investment opportunities for the ICT, Energy and Mining sectors across Africa. In addition, the online news publication assists global companies to expand their presence in Africa. Email: news@biznisafrica.co.za

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