This past Monday, the 2022 Mining Indaba summit commenced in Cape Town, South Africa. Seeing that investors are pulling out from Russia with Africa being their first option.
The Mining summit is to be held until the end of the week and the goal for it is to highlight the problems surrounding mining in Africa.
Speaking during the opening of the summit, the Zambian president called upon elected leaders in their respective countries to be responsible for their duties. Other leaders also called upon countries in Africa must share the benefits of their respective resources.
This year’s mining indaba happens with the backdrop of high energy prices, which pose a significant inflationary risk to the poor and emerging markets. The mining industry on the continent has been impacted by other issues like insecurity, workers’ strikes and low global mineral prices.