CAPE TOWN (miningweekly.com) – Despite the challenges faced by the mining industry in Africa, mining continues to be the most important channel for foreign investment for several countries on the continent.

“Well-considered investment provides opportunities for real social gains. The ideal outcome is for mining to help countries become more resilient,” Rio Tinto diamonds and minerals CE Alan Davies told delegates at the Mining Indaba in Cape Town.
 
“We have the opportunity to create immense value together. There is no good reason why Africa should not make this the African century – and mining can play its part as a catalyst in that transformation,” he added.
 
He cited Rio Tinto’s multibillion-dollar Simandou project, in Guinea, as an example of how people could benefit from investment, with the project aimed at accessing one of the world’s largest untapped iron-ore resources.

The government of Guinea had been working with Rio Tinto to develop the project, which would also include the development of the new 650 km Trans-Guinean multi-use railway line, which would link south-east Guinea with the coast along the Southern growth corridor. A new deep-water port in Moribaya would also be the first in the country to provide access to large cargo ships.

“The potential for benefits are enormous; to bring iron-ore to market, to build rail, roads and a transport route. Fertile but undeveloped farmlands will be developed. The port will offer Guinea greater opportunities to develop its economy,” stated Davies.

Meanwhile, at Richard Bay Minerals, a subsidiary of Rio Tinto in South Africa, a business development centre had been established, while a construction programme had provided training for 81 people during 2014 to help ensure “sustainability beyond the mine”.
 
Davies said Africa’s vast and predominantly young population was an enormous opportunity for the continent and that the children of today would be the continent’s future truck drivers, miners, operations managers, industry chief executives and political leaders.