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VENTURES AFRICA – South Africa’s minister of mineral resources, Susan Shabangu, on Monday called on international and local partners to invest in Africa, saying exploration prospects remain extremely high on the continent.
Speaking at the opening of the Investing in Africa Mining Indaba 2014 held in Cape Town, South Africa, Shabangu however, insisted that Africa needed responsible investing which is totally different from the mind-set of previous years.
“Africa does not need investing based on exploitative principles centred solely on expectations for unrealistic rates of returns that are disguised on the principle of high risk-high return,” Shabangu said.
“As you know, mining is a long term investment and not about quick wins. Those who balance Africa’s mineral development with growth will ultimately receive the greatest reward in the long term,” she continued.
Organisers of the Mining Indaba believe this gathering is the biggest mining investment meeting held anywhere.
The annual Mining Indaba has also produced many investment related benefits.
It is believed that the Mining Indaba has assisted the continent to attract billions of dollars from foreign investors as it attracts world’s biggest and most influential stakeholders in the industry.