South Africa-Business-Mining

Minister lauds domestic investment in S/Africa’s mining sector

APA-Pretoria (South Africa)

While the South African government continued to work hard to attract foreign direct investment into the country, there has been a positive change domestically, with companies pledging huge investments into the economy, Mineral Resources Minister Gwede Mantashe has said.

Mantashe said this during a media briefing, shortly after addressing the opening session of Investing in African Mining Indaba, at the Cape Town International Convention Centre on Monday.

“We, as South Africans, must invest [in the mining sector]. I think one of the companies, Exxaro, announced a US$1.43 billion investment. Sasol announced a multibillion investment. There is a change in the attitude in the sector,” he said.

“The environment is conducive. We are in talking terms. We are engaging regularly since the compact that we signed this morning,” the minister said.

Mantashe said the government, along with other mining industry role players, have been working on an agreement in the industry for a collective, sustainable and transformed industry.

He said the agreement was signed Monday morning by role players such as trade unions, the Minerals Council South Africa and the South African Mining Development Association.

He said the compact contains 11 areas of focus that the social partners believe provide the basis for a roadmap to attain the country development vision 2030. There will be an implementation plan developed to keep track of progress made and milestones reached.

 “This is a commitment for all of us to work together in ensuring that this industry grows and is sustainable and that it is the most transformed. Our vision for 2030 is to be the most transformed sector in the globe,” he said.


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