Mining Indaba MD Alex Grose on leveraging technology to attract investment

The 25th Investing in African Mining Indaba in Cape Town has come to a close, marking a significant milestone in the history of the event. CNBC Africa's Fifi Peters sat down with Alex Grose, Managing Director of Mining Indaba, to reflect on the event's journey over the past quarter of a century. Grose reminisced about the humble beginnings of the event 25 years ago, citing the end of apartheid as a pivotal moment that sparked the need to attract more capital into South Africa and the broader African continent. What started with just 300 attendees at the Southern Sun has now evolved into a massive gathering of over 6,000 delegates from around the world. Grose highlighted the 15% year-on-year growth in investor numbers, indicating a growing interest in investing in Africa among international stakeholders. Discussing the theme of 'mining for the future,' Grose emphasized the global nature of the industry, where African countries compete not only against each other but also against mining powerhouses like Australia and Canada. In order to attract the right investments, Grose stressed the importance of adopting innovative technologies such as drones, AI, and big data to make mining operations more efficient and sustainable. Furthermore, Grose touched upon the issue of inclusivity in the mining sector, particularly in terms of community engagement and labor practices. He acknowledged the need for greater inclusion of local communities and labor in decision-making processes, highlighting the significance of President Cyril Ramaphosa's call for labor representation on boards. The response to this message from the mining companies in attendance was positive, with packed sessions addressing the evolving nature of the workforce and the necessity of upskilling existing personnel. One of the standout moments of this year's Mining Indaba was the presence of President Ramaphosa, marking the first time a South African president had spoken at the event in its 25-year history. Grose pointed out that this milestone was significant not only for South Africa but also for Ghana, whose president also addressed the audience. The dual presidential presence underscored the importance of the mining industry to the African continent and signaled a strong commitment from both countries to advancing their mining sectors. In a rapidly evolving digital era, the mining industry faces both opportunities and challenges. While technology presents new possibilities for growth and efficiency, there is a pressing concern about widening inequality. Grose acknowledged this issue and emphasized the need to ensure that technological advancements in mining are accompanied by measures to promote inclusivity and equitable distribution of benefits. As the 25th edition of the Investing in African Mining Indaba drew to a close, it was clear that the event had not only celebrated its legacy but also set a course for the future of mining in Africa. With a focus on leveraging technology, fostering inclusivity, and attracting global investments, the Mining Indaba remains a crucial platform for shaping the continent's mining landscape.