About 400 international delegates attended the Mining on Top: Africa conference in Westminster, London, last week, which was organised by business-intelligence supplier IntierraRMG, in partnership with the UK Trade and Investment department and the Commonwealth Business Council.

The event invited delegates to discuss the profits and perils of Africa’s mining boom and the growing demand for a fairer spread of its economic returns to communities across the continent.

Speakers, panels and Ministerial roundtables covered a range of highly topical issues facing the sector, including resource national-ism, sustainability and infrastructure develop- ment, as well as the risk and reward landscape facing investors.

Speakers included senior representatives from several key industry players, including Anglo American inter-national relations director Richard Morgan, De Beers international relations director Andrew Bone and government representatives from Cameroon, Ghana, Kenya, Rwanda, South Sudan and Zambia.

Following this year’s G8 summit debate on transparency in the global mining sector, the Mining on Top conference brought together African Ministers and senior officials, mining companies, bankers, investors and service providers to address tensions among stakeholders.

Meanwhile, IntierraRMG MD Peter Rossdeutscher stresses the importance of prioritising the social licence to operate and keeping it high on the agenda because, currently, the biggest risks to mining are financial.

“It is, therefore, exciting and encouraging that Mining on Top gathered so many of the key players associated with African mining at such a crucial time for the industry,” says Rossdeutscher.

Despite a relatively optimistic final quarter for 2012, this year is likely to remain difficult for the mineral exploration sector. This situation is reflected in Africa, where drilling activity has decreased sharply in the past nine months.

According to data from IntierraRMG’s IntierraLive database, total drilling reports from the continent had decreased to 790 in 2010 before climbing to a cumulative 1 127 in 2011, which increased again last year to 1 240.

The overall trend, however, has been downward, with drilling reports, to date, slumping to only 250 this year.

Meanwhile, whatever the absolute level, gold has retained a remarkably consistent share of the African total – 61% in 2010 and 2011, 56% in 2012 and 65% over the first five months of this year.

Drilling reports for African gold peaked in October 2011 at 83 prospects, but reached a nadir of 23 prospects last month.