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Company aims to engage with ‘movers and shakers’ of African mining

25th January 2013

By: Yolandi Booyens

  

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Global risk consultancy Control Risks aims to build on its reputation and record with African-focused mining companies through its well-placed offices across the continent, particularly in South, East and West Africa, and by engaging with key individuals in the African mining industry at the Investing in African Mining Indaba, which takes place at the Cape Town Convention Centre from February 4 to 7.

Control Risks aims to take advantage of various networking opportunities at the Mining Indaba and will host a joint workshop with South African law firm Webber Wentzel on February 5, which will include a panel discussion presented by Webber Wentzel Africa mining head Peter Leon.

In addition, the consultancy will join the Australian Trade Commission for a morning briefing session on February 6 where it will discuss resource nationalism and its effect on Australian companies involved in African mining.

Control Risks senior consultant Pamela Wadi notes that Control Risks will also host various cocktail receptions throughout the week of the Mining Indaba, adding that the company is anticipating a robust discussion between government representatives and private stakeholders regarding resource nationalism and its effect on mining in Africa.

The African mining industry is characterised by rapid growth, global markets successes and the need for continued geographical expansion, Wadi asserts.

“Despite current risks, such as labour issues, Africa’s substantial mineral wealth continues to appeal and attract vast interest from the mining industry,” she notes.

There is a growing realisation that succeeding and remaining competitive in the African mining environment requires mining companies to adapt to the new challenges presented by this sector.

“Control Risks’ services have evolved to help its clients navigate, understand and mitigate the risks of operating in often complex and potentially hostile environments,” Wadi states.

She explains that it is crucial for companies to understand the political climate of the jurisdiction in which they choose to establish mining operations, especially when considering the political diversity of Africa’s 54 countries.

“Changes in the political scene of a country can have a dramatic impact on mining opera- tions,” she points out. Laws and regulations can suddenly change in certain volatile jurisdictions, affecting the security of a company’s assets on the ground.

Uncertainty regarding licensing regulations, tax regimes and security of tenure can seriously undermine the feasibility of a mining project in its chosen jurisdiction for both investors and mining houses, Wadi points out.

She adds that securing a business from operational risks is a first priority for any mining management team. “Losses of life, physical assets and intellectual property can have a devastating impact on a business.”

Further, protecting a company’s integrity and reputation is essential when conducting business in the African extractive sector. “Increasingly, stakeholders and regulators require mining houses to take responsibility for the actions of their employees, agents, intermediaries and counterparties.

“It is, therefore, critical for decision-makers to consider important issues, such as choosing the right route to market; having a social licence to operate and adhering to local content requirements, as central to their reputation and perceived integrity in the mining sector. Mining companies are increasingly obligated to acquire local partners – choosing the right one can make or break your business,” she emphasises.

Wadi notes that it is critical for mining com- panies to form an independent assessment of potential partners that goes beyond their marketing material and financial accounts. “Understanding their original sources of wealth, record and the reputation of the business controllers (on the surface and behind the scenes) helps to identify hidden weaknesses and vulnerabilities, protecting a mining company’s own reputation in the market.”

Independent advice from specialists can be invaluable when participating in the African extractive sector, she emphasises.

Control Risks has over 35 years’ experience in delivering strategic advice, risk assess- ments and operational support to numerous companies in the mining sector. The company’s support structure includes solutions to understand and mitigate political, security and integrity risks.

“We support and provide analysis at every stage of the project life cycle – from pre- investment, initial exploration and feasibility to development and construction – in addition to advising on issues related to the cessation of mining activity,” Wadi notes.

Control Risks also seeks to reinforce and cement its relationships with existing clients and partners in the mining sector, build brand awareness, showcase its expertise to new African mining operators and investors and help tackle the challenges faced by the African mining industry by exhibiting at the 2013 Investing in African Mining Indaba.

The company has worked with more than 5 000 clients in over 135 countries worldwide since its inception in 1975, states Wadi.

“Our renowned expertise, the breadth of our services and the geographical reach of our organisation enables us to help clients meet their challenges and realise new global business opportunities.”

She notes that Control Risks has been an active participant at the Investing in African Mining Indaba for the last five years. The company occupies a stand alongside leading mining houses at the exhibition and regularly hosts conferences at the event.

In 2013, Control Risks’ presence at the Mining Indaba will present an opportunity to engage, discuss and network with the ‘movers and shakers’ of African mining, Wadi states.

The company will be joining over 5 000 attendees at the Mining Indaba – the central meeting place of mining’s most influential stakeholders and decision-makers, from as far afield as Europe, Australia and North America, with a vested interest in African mining.

“The Indaba unites key stakeholders of the mining sector, such as junior and major mining houses, government Ministers, financiers and mining services providers. It is the flagship conference for showcasing Africa’s status in the world of mining,” Wadi asserts.

Edited by Tracy Hancock
Creamer Media Contributing Editor

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