Mining Investors Remain Optimistic in Spite of Concerns Surrounding Political Instability and Labour Unrest
6th February 2013: Cape Town, South Africa – An opinion survey of delegates attending the 2013 African Mining Indaba this week in Cape Town has found that 58% of respondents are optimistic regarding the prospects for the industry across Africa over the coming year. This optimism is tempered by the fact that 45% of respondents felt the biggest impediment for growth in African mining would be political instability and labour unrest.
The Aggreko African Mining Survey was conducted by Aggreko, the world leader in the supply of temporary power and temperature control solutions over the course of the event. With more than 275 responses drawn from a variety of mining professionals and business leaders, the survey is an up to the minute snapshot of how the industry is looking towards 2013 and beyond.
Highlights from the Aggreko Thought Generator include:
- 35% of respondents believe that West Africa is the region with the greatest potential followed by Central Africa (27%) and Southern Africa (23%)
- 41% of respondents see gold as being the most attractive commodity to invest in, followed by coal (19%) and copper (16%)
“Mining Indaba draws together the key players and main decision makers in African mining,” commented Rupert Soames, CEO of Aggreko plc. “Having the opportunity to capture the insights and views of such an influential group is a powerful way for us to assess the mood of the industry for the coming year.”
In response to a question on the outlook for African mining in 2013, the vast majority of the respondents (58%) felt cautiously optimistic about the year ahead. It was noted that much of this optimism was based on worldwide demand for commodities remaining strong, especially from markets such as India and China.