CAPE TOWN, Feb. 5 (Xinhua) -- Global mining leaders gathered in Cape Town to attend the Investing in African Mining Indaba (conference) which kicked off on Monday and will run until Thursday.
The event, now in its 19th year, is the largest in its history, with more than 7,500 delegates from around the world, organizers said.
The mining indaba are bringing together ministers, executives from mining companies and foreign investors and other professionals critical in the mining value chain, providing all delegates with opportunities for an unparalleled week of deal- making and discovery.
Africa is one of the world's major mining frontiers, rich in vital resources such as coal, manganese and iron ore. The growth of the mining indaba has brought significant revenue to the local economy – in 2012 delegates occupied more than 40 local hotels, and spent an estimated seven million rand (795,000 U. S. dollars) on shopping, tourism and restaurants. This year the organisers are expecting that expenditure mark to be exceeded.
In line with its agenda of aligning itself with the transformative policies of the South African government, and contributing to the advancement of the country's mining industry, the conference has this year offered bursaries to two deserving mining engineering students. The bursaries, valued at US$10,000 each, have been awarded to two fourth-year students: Lindiwe Nyalunga at Wits University, and Hlulisani Mabege at the University of Pretoria.
Key speakers at this year's conference will include South African Minister of Mineral Resources Susan Shabangu and newly appointed Anglo American CEO Mark Cutifan; South African Minister in the Presidency – National Planning Commission, Dambisa Moyo,and Mamphela Ramphele, chairman of Gold Fields.
For the first time, Cape Town Mayor Patricia de Lille will be welcoming the delegates to the city. Both parties believe that the partnership will enhance the entire experience for the delegates and further highlight the world-class destination as is Cape Town.