Transformation is imperative and must happen - Oliphant

Over the last few years, a recurring theme at the annual Investing in African Mining Indaba has been the uncertainty in the South African mining industry. However, according to Godfrey Oliphant, Deputy Minister of the Department of Mineral Resources in South Africa, this sentiment has changed. In a recent interview at the event, Oliphant highlighted the renewed sense of optimism in South Africa's mining industry, attributing it to the positive mood and vibrant atmosphere at the conference. The Deputy Minister expressed that the optimism has been influenced by the significant bounce back of commodity prices that has been witnessed in recent times. Oliphant discussed the fruitful interactions with investors at the event, noting that many investors have expressed readiness to engage with South Africa and clarify legislative issues. He also acknowledged concerns about the political situation in the country but assured investors that the ruling party is in control. Additionally, Oliphant mentioned engagements with a delegation of seven companies focusing on fostering collaboration and exploring potential investments in the country's mining sector. One of the key topics of discussion at the event was the role of junior miners in the development of the mining industry and the broader South African economy. Oliphant emphasized the importance of junior miners, highlighting that they are the future of larger mining operations. Drawing parallels with countries like Australia and Canada, where junior miners receive significant support, Oliphant acknowledged that South Africa still lags behind in this aspect. He outlined ongoing efforts to support junior miners through workshops and collaborations with funding institutions. The interview also touched upon the emergence of the fourth industrial revolution and its implications for the mining industry. When asked about South Africa's preparedness for adopting new technologies and adapting to the changing workforce, Oliphant stressed the need for collaboration. He emphasized that while the country is preparing for the future, it also acknowledges the current realities influencing the industry's evolution. Addressing the contentious issue of the mining charter, Oliphant shared insights into ongoing discussions with mining companies aimed at resolving differences. He expressed optimism about potentially reaching an out-of-court settlement and reiterated the commitment to transformation within the sector. In response to questions about meeting the industry's needs and ensuring transformation, Oliphant affirmed that transformation is imperative and non-negotiable. He acknowledged the importance of consultation and dialogue with stakeholders to navigate the details of transformation effectively. Overall, Deputy Minister Oliphant's insights shed light on the positive outlook and collaborative efforts driving the transformation and growth of South Africa's mining industry amidst a changing global landscape.