By: Khothatso Khoapa - Principal Officer of the Mineworkers Investment Trust

The central question confronting the mining sector is no longer only how to extract minerals, but how to ensure that mining drives inclusive growth, strengthens communities and sustains future generations. As delegates gather at the Investing in African Mining Indaba, this question sits at the centre of discussions on responsible investment, sustainable mining, evolving industrial value chains and the role of mining in driving inclusive growth across the African continent.

To move beyond broad intentions, it is crucial to clarify what signals true progress. Concrete indicators, including the share of local procurement, measurable wage growth for workers and suppliers, and improvements in educational outcomes, such as graduation rates, in mining communities, can measure inclusive growth in mining. Setting and tracking these metrics will enable all stakeholders to hold the sector accountable, ensuring that the benefits of mining translate into genuine and sustained advancement for those closest to its operations.

The Mineworkers Investment Trust approaches this question from a perspective shaped not only by investment practice but by the lived experience of workers and mining communities. The Trust was established to ensure that the labour of mineworkers would translate into opportunity, education and dignity for their families and communities. As one miner put it, "When the Trust helped my daughter go to university, I felt my years underground had meaning beyond the mine." That mandate continues to guide the Trust’s work and partnerships today, including through its investment arm, the Mineworkers Investment Company.

The mining sector is undergoing structural change driven by shifts in global demand, technological change and evolving industrial value chains. Commodity cycles remain volatile, energy systems are shifting and technological transformation is altering the nature of work underground and above ground. The Mining Indaba programme reflects this transition, with discussions on the green transition, responsible sourcing, infrastructure development and African value chains. These conversations are necessary, yet they must always return to the human dimension of mining. Development must be measured not only by output or market capitalisation, but also by the lives improved and the opportunities created.

The history of the Mineworkers Investment Trust and its investment activities illustrates how mining can support broader social transformation. Over three decades, dividends generated through disciplined, long-term investment have produced more than R1.5 billion in funding for education, training, research and community development initiatives that have changed the trajectory of thousands of families. These resources have enabled the awarding of over 12,000 scholarships to children of mineworkers, the establishment of 15 community clinics, and the support of more than 200 new small businesses in mining communities across South Africa. This work is rooted in a principle that remains as relevant today as when the Trust was established: growth must serve people.

Africa holds a significant share of the world’s mineral resources, including those essential to the global energy transition, such as cobalt, lithium, manganese, copper, nickel, graphite, rare earth elements, platinum group metals and vanadium. This endowment presents both an opportunity and a responsibility. The continent must ensure that the extraction of these resources contributes meaningfully to industrialisation, skills development and long-term economic resilience.

To fulfil this responsibility, African policymakers and leaders could pursue regional mechanisms to capture more value within the continent—such as championing an African Battery Alliance to coordinate investments in battery manufacturing and value-chain integration, or adopting collective standards for local content in mineral processing. Such strategic agreements would help ensure that Africa’s abundant resources are leveraged to drive broader prosperity and secure greater returns for nations and communities across the region.

The future of the sector will depend on several interconnected priorities.

First, investment must be patient and strategic. Patient capital is defined by its willingness to adopt longer time horizons to pursue deeper, more resilient returns, prioritising social and environmental outcomes alongside financial gains. Unlike speculative investment that chases quick profits, patient capital remains engaged through commodity cycles and commits to sustainable value creation. Mines operate within communities, ecosystems and national economies, and responsible capital recognises this interdependence and plans accordingly.

Second, mining must deepen its social compact. Because mines are embedded in communities and regional economies, workers and host regions must see tangible benefits from mining activity. This includes education pathways, supplier development, infrastructure investment, and strengthening local economies to prevent towns from collapsing when a shaft closes.

The Mining Indaba provides a critical platform to advance these conversations. It remains one of the few forums where policymakers, investors, labour and communities can engage in sustained dialogue about the future of mining in Africa. For that dialogue to be meaningful, it must move beyond rhetoric and produce measurable commitments. This urgency is heightened by the fact that mining, by its nature, depends on non-renewable resources, making long-term planning, responsible extraction and sustainable reinvestment essential.

There is also a broader ethical dimension to this moment. The legitimacy of the mining industry depends on public trust. Trust is built through transparent governance, environmental stewardship, fair labour practices and visible community investment. Institutions that fail in these areas risk losing their social licence to operate.

For the Mineworkers Investment Trust, governance is not a technical requirement; it is a fiduciary duty to beneficiaries. The capital entrusted to the Trust originates from workers whose labour built the industry. Stewardship, therefore, requires prudence, accountability and a constant focus on the long term.

As discussions continue at this year’s Mining Indaba, stakeholders should remember that the future of mining will not be determined solely by commodity prices or investment flows. It will be determined by whether the industry can align profitability with social justice, innovation with inclusion and growth with sustainability.

As each delegate leaves this year’s Indaba, I invite you to ask: How will you ensure that the gains from mining are shared more fairly, and what personal commitment will you make to align your decisions with the promise of inclusive and sustainable development?

The story of mining in Africa is still being written. The question before us is not whether mining will continue to play a central role in the continent’s economy. It will. The real question is whether that role will translate into shared prosperity, resilient communities, and a new generation equipped to participate in tomorrow's economies.

The Mineworkers Investment Trust, working through its investment activities and partnerships, remains committed to ensuring that the wealth generated from Africa’s minerals continues to build lives, expand opportunities and strengthen the foundations of inclusive growth.