Despite the economic conditions we’re all facing, I remain convinced that the extractives industry in Africa can serve as a powerful catalyst for broad-based economic transformation and long-term growth. But, the current economic reality must be recognized. Commodity prices are at decade lows, global investment in mining projects is slowing, and everyone is becoming more risk adverse. Therein lays the issue I want to address today: at a time when it is easy to retreat to our individual corners given the extraordinary markets, we can tend to lose sight of building a foundation for tomorrow. And I suggest that the pathway for success across Africa will be focused on three issues of longstanding and critical importance: investment certainty, infrastructure and innovation.
Alan Davies, chief executive, Diamonds & Minerals at Rio Tinto, speaking at "Investing in African Mining" Indaba