Mineral Resources Minister Gwede Mantashe met with the executive of the Minerals Council South Africa and CEOs in the coal and platinum sectors on Friday to receive a briefing on the challenges faced by companies in these sectors, and to work on finding solutions for the long-term sustainability of the mining industry.
This forms part of his ongoing engagements with the industry, to ensure that it is stable, transforming, competitive and continues to make a positive contribution to gross domestic product and employment creation.
“Coal remains a key commodity and is currently leading in terms of revenue generation. It is, therefore, critical that we proactively and continuously engage to address any issues emerging in the sector,” Mantashe said.
Further, South Africa accounts for 87% of the world’s known platinum reserves and is the mining industry’s second-largest revenue generator.
“We are working together with the sector to explore ways of creating more demand for this metal, because I am of the view that platinum has great prospects for growth,” the Minister said.
Mantashe highlighted the importance of collaboration in the industry. “It is, after all, in our collective interest to ensure that the industry takes its rightful place in the economy, and that South Africa remains a preferred investment destination for mining,” he said.
Minerals Council South Africa CEO Roger Baxter, meanwhile, welcomed the Minister’s commitment to working with the mining industry to ensure it “regains its rightful position as a key flywheel to the engine of the economy”.
“ . . . a healthy and viable mining industry would have the potential to attract more investment, which will lead to growth, ultimately magnifying its contribution to the fiscus, transformation and the wellbeing of all South Africans,” he added.