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Fourth Mining Business & Investment Conference to be held Oct

22nd August 2014

  

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The Mining Business and Investment (MBI) Conference Eastern Africa is an annual event hosted by the Kenya Chamber of Mines and Prescon Limited with the support of the Kenyan Ministry of Mining.

The event, which will be held on October 16 and 17, is a response to the industry’s demand for a forum where ideas on the nascent extractives industry in Eastern Africa can be exchanged.

Eastern Africa has recently sparked interest internationally owing to the discovery of mineral deposits in countries such as Kenya and Ethiopia. This interest has not gone unrewarded, with the deposits continuing to prove commercial viability, further attracting the attention of potential investors and mining and exploration companies.

These discoveries hold the promise of economic development for Eastern Africa, a region of mostly developing countries with a history of stagnant economic growth.

Coupled with the significant technological and infrastructural growth experienced in recent years, the discovery of mineral resources has the potential to transform these countries into higher-income States with growing economies.

“The mining industry in Eastern Africa is young, yet holds great potential for transforming the region into an economic powerhouse,” says Kenya Chamber of Mines CEO Monica Gichuhi. “The multiplier effect of extracting the minerals includes the creation of jobs, infrastructural development and production opportunities for the local communities.”

The prospects of mineral wealth have prompted speculation from analysts into some of the challenges that may hinder the realisation of economic prosperity from the extraction of the minerals in the region.

One of the major issues that have started creeping up on the industry, is the lack of information on the mining sector. Once deemed insignificant, the extractives sector in the region has received little attention and, hence, minimal funds to aid the development of knowledge that would be vital in its growth.

Information such as the types of minerals available in the region and sources of finance for exploration and extraction of these minerals is scarce and expensive to attain, necessitating the launch of a platform that would enable dialogue on the key aspects of the industry.

Cognisant of this need, the Kenya Chamber of Mines and Prescon Limited launched the MBI Conference in 2011.

Over the last four years, the conference has actively led the Eastern African mining sector in seeking the optimal mineral business environment through the attraction of investors to the region, the promotion of suppliers and analysing the current situation. These efforts are greatly supported by the local business community and the public sector.

The MBI Conference leverages industry experts from the global mining scene to share their insight and experiences, as well as benchmark the region against more developed resource-rich economies. Previous conferences have seen speakers from leading companies such as Base Resources, Tembo Gold Explorations, PwC, African Barrick Gold, Andiamo Explorations Limited, Mayfox Mining and Extractives Industries Transparency Initiative share their knowledge and experiences.

“The topics discussed at the MBI [Conference] are very well balanced. They look at all areas from tax to general corporate social responsibility, to stages in the mining industry and raising finance. [The conference] also [features] very good speakers who are authorities in their fields,” says RSM Ashvir’s Ashif Kassam.

The forum explores subjects of major concern to both the mining and exploration companies operating in Eastern Africa and those intending to venture into the region. It also focuses on providing exposure and information to other stakeholders who enable the sector to run. These include equipment suppliers, consultancy firms and service providers who support the extracting companies.

This year, some of the topics of focus are: positive policy and legislation for mining, infrastructure development, fiscal regimes, investment opportunities and technological advancements in mining. These topics will be discussed under the leadership of subject matter experts, followed by panel discussions, which will allow for comparison of experiences by different companies.

These focus topics are selected intentionally to steer discussion on how the mineral wealth in Eastern Africa can be exploited for the benefit of the entire region without the negative experiences witnessed in other regions. Termed ‘the natural resource curse,’ many African countries that have discovered oil, gas and minerals have quickly deteriorated into conflict as a result of poor administration. MBI topics such as policy and legislation address best practices in the industry that would avoid such disasters.

An additional benefit the conference affords the participants is a chance to view the latest products on the market through the exhibition of products and services offered in the region. The exhibition gives suppliers a chance to introduce products to potential clients, as well as receive feedback from their customers. Companies take advantage of this to display expertise and credibility.

To continue advancing the mineral industry growth, the MBI organising committee will, this year, launch the EA Mining Review  – a quarterly publication aimed at providing vital industry information to mining stakeholders in the Eastern African region.

The EA Mining Review will extensively offer objective insight into the industry’s progress. Some of the subject matters that will be covered regularly include financial and insurance options, policy and legislation, global industry logistics, energy sources, human resource management and human rights in the extractives sector. This initiative is aimed at accelerating the industry’s development by equipping the companies and individuals involved with accurate and timely knowledge.

The relevance of the MBI Conference is apparent in its continued growth, which has resulted in the attraction of over 5 000 local and international companies to participate either as delegates, speakers, exhibitors or sponsors. The conference has undoubtedly been instrumental in attracting investors into Eastern Africa and propelling the sector into recognition as a relevant contributor to the region’s development.

Contact Information:
Joy Wanyonyi
Marketing & Communications
Phone:  +254 708 291194       
Email:  joy@prescon-int.com   

Anne Kamau
Conference Producer
Phone:  +254 714 912703
Email: anne@prescon-int.com

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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