Impala hopes G20 will address key issues plaguing mining sector

The recent 18% surge in commodity prices over the past seven months is set to help mining giant Impala Platinum (Implats) align with the G20’s strategic objectives.

This is according to its newly appointed CEO, Moses Motlhageng.

Speaking ahead of the G20 Summit scheduled to take place in Johannesburg this weekend, Motlhageng noted that the company is emerging from two challenging financial years.

Motlhageng expressed hope that the summit will address key issues that have negatively impacted the mining sector.

“Fluctuation in commodity prices remains an underlying challenge, mainly because it disturbs or it causes instability on the strategic development plans that the producers of mining industry is intending to roll out or to execute. So, when the prices are low, the commodity producers, they will invest less on capital projects, which could eventually affect potential jobs.”

Motlhageng adds, “And I’m quite excited at the moment that the commodity prices are supporting us, meaning that the producers in the mining industry will start investing more on life-of-mine extensions, investing more on green and brownfield projects.”