Anglo American CEO Duncan Wanblad
Photo by: Bloomberg
Multinational mining company Anglo American is focusing on partnerships with its host nations to grow the mining industry and remain resilient through disruptions, said CEO Duncan Wanblad during his keynote address on the first day of the Cape Town-hosted Investing in African Mining Indaba 2024.
He underlined the importance of effective partnerships with the mining company’s host nations to achieve sustainable economic and social benefits while acknowledging the challenges faced by South Africa, Botswana, Angola and Zambia.
“Whether it is playing a leading role in helping South Africa address its big three challenges – energy, logistics, crime and corruption - or building on our longstanding relationships with the governments of Botswana and Namibia, we recognise the importance of these efforts,” he stated.
Wanblad emphasised the pressing need for resilience in the mining industry amid global disruptions and highlighted macroeconomic risks, geopolitical upheaval, inflation, higher interest rates and the dual crises of energy and climate as challenges.
“Increased disruption is the new normal, and leaders must actively navigate through change and uncertainty. Companies must adopt a truly long-term mindset, not only to withstand current stresses but to build a more resilient mining industry capable of weathering future challenges,” he said.
He urged the acceleration of progress and emphasised the need for tangible results, imploring African countries to implement regulatory frameworks and conditions to attract investment.
“Capital is highly mobile, and the best capital will flow to countries committed to long-term competitiveness,” he stated.
Wanblad concluded with a call to action, stating, "This is the time to build resilience, build Africa's competitive advantage, and build our partnerships for the long term. Let's not simply navigate the future; we must shape it."