Linda Omara-Koledade, founder & CEO of Mustard Seed. (Image source: Mustard Seed)
Linda Omara-Koledade, mining and metals dealmaker at Industrial Development Corporation and founder & CEO of Mustard Seed, an organisation dedicated to engaging, equipping and inspiring professionals and entrepreneurs, discusses the challenges and opportunities facing the next generation of miners ahead of her participation at Investing in African Mining Indaba
African Review (AR): From your perspective what are some of the greatest challenges currently facing young professionals entering the mining sector?
Linda Omara-Koledade (LOK): On the surface it is easy for one to assume that the mining industry is an attractive sector for young professionals due to generous salaries, variety of career path options and lucrative business opportunities.
However, penetrating the industry is not as easy as one would assume; for starters there is a perception that the mining sector is elitist or exclusive, with very high barriers to entry (technical expertise required and high capital and regulatory requirements for entrepreneurs). These factors make it challenging for the average young person to consider venturing into mining.
Secondly, there are negative associations the mining sector has when it comes to environmental impact, safe working environment and community impact. I believe this makes it challenging to attract young talent (specifically millennials and Gen Zs) who unlike their predecessors, seek purpose over money and prefer work that aligns very closely with their personal values.
Lastly, there are practical aspects that may increase the reluctance to join the sector; mining being male dominated naturally limits female interest and participation. Another practical aspect is the location of mines; mines by their nature are usually based in isolated locations (far from urban cities), and the work typically requires long shift working hours. These may contribute as discouraging factors, as one considers social life in the city versus living in a far off mining town and the compounding impact that this has on ones’ mental health and close relationships.
AR: Do you see the evolving technology environment as a help or hindrance to them?
LOK: I see it as twofold; on the one hand technology and innovation has improved operational efficiencies and productivity across the mining value chain right across exploration, mining and beneficiation. The upside is the reduced downtime, improved occupational health and safety, reduction in machine human interactions, environmental reduced lead times and overall improved competitiveness and environmental conservation.
On the other hand, technology is perceived to be somewhat of a hindrance; the cost of acquiring, learning and adopting new technology can be quite significant and onerous. And hand in hand with that concern is the view that technology is ultimately replacing human jobs.
AR: Do you believe young professionals are being sufficiently empowered/supported by industry players to enter and excel within mining?
LOK: For the most part I would say yes, specifically when one looks at the large, more established mining houses that offer well-structured graduate programs, professional in training programs that map out a clear career path and mentorship opportunities that offer leadership support.
However, when one looks at mining entrepreneurs, breaking past the gatekeepers into what is perceived to be an exclusive industry remains challenging. A lot more can be done to better support mining entrepreneurs; more funding opportunities, more platforms to educate up and coming miners about various regulatory requirements, technological advancements etc.
AR: What do you think the industry could do better to support the next generation of miners?
LOK: My thoughts regarding ways to better support the next generation of miners:
• The large mining corporates can take the lead in corporate venturing; invest in mining focused venture funds, take minority equity stakes in mining start-ups of interest. This avenue can unlock new sources of growth and potential high returns for corporates whose growth has plateaued.
• Invest in mining focused entrepreneurship platforms such as incubators and accelerators. These platforms can offer support that has the potential to break negative stereotypes and elitist bias.
• Government to consider a structured approach to empower and allow young people better understand the plethora of opportunities that exist in the mining sector. (ie. numerous opportunities that exist in the mining sector do not involve actual going underground to extract ore).
• Allow miners to gain access to various technologies to increase awareness and appreciation of the benefits of innovation.
AR: What are your hopes for Mining Indaba this year in relation to this topic?
LOK: I look forward to engaging with the selected panel of mining experts to unpack and deeper understand what it takes to attract more young people into the mining sector and also gain insights on the extent to which technologies such as AI are being adopted and what impact they are having on day-to-day mining operations.
