Mining can and will deliver massive benefits if all stakeholders work together, Ivanhoe Mines executive cochairperson and founder Robert Friedland said last week.
Speaking on the third day of the Investing in African Mining Indaba, he outlined the huge potential of the collaborative government, business and labour effort in South Africa and the Democratic Republic of Congo (DRC), where he is developing promising platinum and copper mining projects.
“There’s a new dawn being led by President Cyril Ramaphosa. I can feel the winds of change actually blowing,” he said of South Africa’s new political horizon.
He also spoke of the long-delayed election in the DRC finally setting a new backdrop of confidence. He also expressed confidence in new DRC President Félix Tshisekedi.
Committed“We are committed to uplifting all the people of South Africa and the DRC. Our governments and our shareholders and our workers will all benefit,” said Friedland, who emphasised the importance of country certainty and stability, given the long-term nature of exploration and mining only delivering returns after billions of dollars have been invested.
“Cyril Ramaphosa is bringing winds of change, the purification of the African National Congress and the restoration of Mandela’s mission,” he said.
As the global population moved towards eight-billion, more demand would be placed on copper and platinum to put an end to nine out of ten people in urban areas having to breathe in polluted air, which was deadlier than smoking, war and Aids put together.
“I’m talking about bad air; tiny particles get in your lungs and never come out,” which, he said, was worst for babies in strollers.
“The closer you live to a major road, the higher your chances of developing dementia,” he warned.
The new electric cars required to curb urban air pollution would require a huge mount of copper and their batteries nickel, cobalt, graphite and lithium.
“Nothing is as cheap as solar energy and the revolution will come when we store electricity,” he said, while noting that China was consuming half the world’s copper and half of that was going into power generation.
A move to hydrogen fuel cell power would mean that 10% of China’s cars would use the entire global production of platinum.
“The world needs us now,” he said of the mining industry.
The reduction in petrol consumption and the burning of less material that causes global warming would result in greater demand for platinum.