Rebooting local mining would require a common vision between the sector and government, the CEO of Sibanye-Stillwater Neal Froneman said on Wednesday, adding that a number of growth-inhibiting factors still remain.

From policy certainty, efficient processing of mining rights application to electricity supply, mining companies have had to navigate regulatory hoops which have seen the industry lose its competitive edge over the last decade.

Froneman stated that while some progress has been made in improving mining conditions in the country, conditions were not yet ideal and collaborative efforts between the sector and government were needed in order to create a "quantum shift" needed to revitalise the economy.

"We have good progress in the last few years… but there are many aspects that are not investor-friendly, said Froneman at the Mining Indaba. He said he had also raised this concern with Mineral Resources Minister Gwede Mantashe, who took over the portfolio in May 2019.

The chief of the mining house which is a significant platinum producer in the world emphasised that government alone cannot grow the economy and neither can business. The business leader, who is known for his frank assessment of the challenges facing the industry, was part of a panel discussion on the importance of collaborative efforts between government and the mining sector in driving growth.

LACK OF TRUST
He lamented the lack of trust between various stakeholders, including organised labour and communities.

"We don't have a common vision for the industry with government. There are other stakeholders that have very divergent views, we need to get to a common vision. I think one of the biggest inhibitors in achieving that is the lack of trust.

"We have to get to a point where we respect the rights of investors and shareholders and find that balance between the rights of communities and organised labour and government. That is an area that requires a lot of debate."

The mining industry is recovering from the Covid-19 slump, which saw companies shut operations in the earlier days of the lockdown. The disturbance led to a delay in some growth projects and companies focused on survival amid reduced output levels.

Speaking on how government has demonstrated efforts to support the sector, the director-general in the Ministry of Mineral Resources and Energy, Thabo Mokoena, pointed at the collaborative interventions adopted to support the sector at the begin of the lockdown, including the phased reopening of mines and the adoption of Covid-19 safety regulations for mines.

He attributed the interventions to improved mining production levels in the second and third quarter of 2020, praising the sector for working with government to save lives by complying with safety protocols.