The 31st Investing in African Mining Indaba is currently underway in Cape Town, South Africa, with representatives from over 115 countries in attendance.
However, the event’s focus on “Future-proofing African Mining, Today” is being overshadowed by concerns over US tariffs and the freeze on foreign aid, particularly under the Trump administration.
Denys Denya, senior executive vice president of Afreximbank, expressed concerns that the 10% tariff on Chinese goods could have a negative impact on African mining.
“China sources lots of its minerals from Africa, which then get exported. If the demand is not there due to the tariff, it could have a knock-on effect on African mining,” Denya said.
South Africa’s Minister of Minerals and Petroleum Resources, Gwede Mantashe, also addressed the issue, stating that Africa should withhold minerals if funding is withdrawn.
The freeze on US foreign aid has added to the uncertainty, leaving many participants seeking answers.
As the conference continues, leaders in the African mining industry will be watching closely to see how these developments unfold and what impact they will have on the future of mining in Africa.
