Euromoney Acquisition to Extend Scope and Reach of Investing in African Mining Indaba
Euromoney Institutional Investor PLC (“Euromoney”), the international online information and events group, has strengthened its position in the $1.2 trillion metals and mining sector with the acquisition of Investing in African Mining Indaba (“Mining Indaba”), the world’s largest mining investment event.
Mining Indaba, which takes place every February in Cape Town, South Africa, attracts over 7000 of the most influential professionals in African mining, making it the world’s largest mining investment conference and Africa’s largest mining event. Governments, investors, business leaders and regulators from more than 110 countries attend the event each year, as well as representatives from over 2300 international companies.
Euromoney will incorporate Mining Indaba into its market-leading stable of global commodities and investment brands, including Metal Bulletin, Industrial Minerals, Coaltrans, IJGlobal and Institutional Investor. The UK-listed group will draw on its strong links to institutional investors and governments worldwide further to enhance the investor content and networking which is at the heart of Mining Indaba.
The event attracts the most senior level speakers from the African and international investment and mining communities including in 2014, major investor and mining luminary, Robert Friedland, Tom Butler, Global Head of Mining of IFC, Sir Paul Collier from University of Oxford and the CEOs of AngloGold Ashanti, Rangold and Exxaro. Future events will develop further opportunities for investors looking to deepen their exposure to mining in Africa.
Using its experience in launching and building international events, Euromoney plans to expand Mining Indaba outside of South Africa. With its expertise in global commodities markets these events will serve the growing regional and international demand for investor-focused events in the $1.2 trillion global metals and mining sector.
“Over the past 20 years, Mining Indaba has established itself as the must-attend forum for anyone active in African mining,” said Richard Ensor, chairman of Euromoney. “The event is highly complementary with our commodities and investment portfolios and will benefit from being part of a more diverse and international platform. With Africa expected to play a central role in the global metals and mining sector for the foreseeable future, Euromoney also intends to build on Mining Indaba’s position as a premier mining investment event by investing in content and the latest networking tools and using our strong links with institutional investors and governments around the world.”
Jonathan Moore, Managing Director of Mining Indaba, added:
“We are very pleased to be joining the Euromoney team at a time when the outlook for African mining is visibly brightening. The vision and long-term commitment of Euromoney to the metals and mining sector fit perfectly with the strategy of Mining Indaba. With the strong financial backing, event management expertise, media support and prestigious investor reach of its new parent, Mining Indaba is well placed to deliver exciting, new learning and networking opportunities to its loyal customers. The transaction will also provide the support needed to extend the Mining Indaba brand both within Africa and around the world to meet growing demand.”
SAMDA announces new CEO
SAMDA today announced the appointment of Mr Aubrey Lekwane as CEO of SAMDA.
SAMDA is an association of mining companies in South Africa established in 2002 and is advocating for transformation and accountability in the mining sector.
“Mr Lekwane is a seasoned executive, having worked in strategic positions in NGOs and Private corporatives in the last 20 years. It was a natural fit to bring him on board as CEO” said the Chairman of SAMDA, Mr Nchakha Moloi. “He has a wealth of knowledge and experience in the formation of new organisations, lobbying, strategic negotiations and corporate development”. “This combination of strategic management experience is just what we were looking for and I am thrilled with his appointment”.
Prior to his appointment as CEO, Mr A. Lekwane served in executive positions in the Jay & Jayendra (Pty) Limited Group of Companies; in the National Economic Development and Labour Council (NEDLAC); and Lawyers for Human Rights. “Aubrey Lekwane served in the secretariat f NEDLAC and facilitated the conclusion of important socio-economic policy decisions”, said the former Executive Director of NEDLAC, Mr Jayendra Naidoo. “We have no doubt that his experience and high level performance in the various roles will make him an asset to SAMDA and the mining community as a whole”. Said Jayendra Naidoo.
“I am incredibly excited about the opportunities to build on SAMDA’s past legacy and successes to lead transformation in the mining industry; drive innovation as well as forge partnerships to establish a vibrant industry based on common goals to reduce poverty, unemployment and inequality in our society”. Said Mr Lekwane.
News and Events
Mid year Mining output 7.7%
JOHANNESBURG (miningweekly.com) – South Africa’s mining production decreased 7.7% year-on-year in July, with the platinum-group metals (PGMs), copper, gold and diamond sectors recording the largest negative growth rates.
According to the latest data released by Statistics South Africa, PGMs output fell 45.2% year-on-year, copper 15.9% year-on-year, gold 14.6% year-on-year and diamonds 10% year-on-year in July.
The PGMs and gold sectors had been the main contributors to the overall decline in mining output for the month, making negative contributions of 11.1 percentage points and 2.3 percentage points respectively.
Investec analyst Kamilla Kaplan commented that, aside from the strike-induced disruptions to production, platinum producers were experiencing real inflationary pressures stemming from wages, electricity and imported inputs, the price of which had been inflated by past rand weakness.
Meanwhile, seasonally adjusted mining production increased 0.4% month-on-month in July. This followed month-on-month decreases of 1.1% in June and 3.2% in May.
Seasonally adjusted mining production for the three months ended July decreased 0.6%, compared with the three months ended April, with the main contributor being PGMs with a negative contribution of 3 percentage points.
The iron-ore sector, however, made a significant positive contribution of 2.2 percentage points to overall output for the three months.
Kaplan noted that although the mining sector only comprised about 5% of South Africa’s gross domestic product, its underperformance was synonymous with that of the production side of the economy in general. “Production has been fundamentally constrained by high operating costs, amid weak aggregate demand conditions and infrastructure bottlenecks.”
Nedbank added that, although mining output was likely to improve over the rest of the year, activity would remain lacklustre, with infrastructure constraints and lower international commodity prices keeping output weak.
Mineral sales, meanwhile, fell 12% year-on-year in June, with seven of the 11 mineral group and minerals having reported negative growth rates.
The PGMs sector recorded the largest negative growth rate of 35%, while the other metallic minerals sector saw a 26.1% drop, nickel a 25.2% drop, gold a 16.6% decrease and copper a 15.7% fall.
Further, seasonally adjusted mineral sales at current prices decreased 6.1% month-on-month in June. This followed month-on-month decreases of 4% in May and 0.7% in April.
Mining health database
TORONTO (miningweekly.com) – The Ontario provincial government has revealed that it would develop a mining health database that would track incidents of illness and miners’ exposure to a number of carcinogenic substances to help prevent exposure to unsafe levels and assist in developing improved health and safety rules.
The mining safety review group on Wednesday morning delivered a progress report on its preliminary work, saying that Ontario would immediately implement four initiatives.
These included setting up the health database, improved worker visibility through increased use of high-visibility apparel, creating a sharper focus on hazards to improve health and wellbeing in new training standards for joint health and safety committees – which were made up of workers and management – and to fund a study to be completed by Laurentian University that would look for ways to reduce the loss of feeling in the feet triggered by continuously using vibrating machinery, which puts workers at greater risk of injuries relating to slips and falls, especially on high work platforms.
Led by the Liberal government’s chief prevention officer George Gritziotis, an advisory group comprising industry, labour, health and safety representatives was tasked to undertake a sweeping review on a range of areas within the sector to improve the health and wellbeing of its workers.
The review was ordered after two miners died at Brazilian diversified mining group Vale’s Sudbury operations in 2011, followed by a spate of other incidents at the province’s mines that prompted calls for regulatory reform.
“I am pleased with the support of the advisory group and of the many people who are devoting their time and expertise to the review. I am looking forward to submitting the final report, which I believe will make a significant contribution to the goal of making mining safer and ensuring that all miners go home after their shift, safe and sound,” Gritziotis commented.
The final report would be provided to the province early next year.
Mining in Ontario is diverse, covering a range of mineral commodities, including gold, nickel, copper, salt and diamonds, and a number of structural building materials.
About 27 000 people work in the province’s mining sector, with another 50 000 jobs in processing.