The rankings were released by the Canada-based Fraser Institute in its annual global survey of mining jurisdictions at the weekend.
In the rankings, in terms of the attractiveness of its mining policies, South Africa now ranks 56th out of the 83 countries that were surveyed in the exercised. Translation: this means that the country has improved its ranking by 25 places, compared to the 2017 ranking of being in the 81st spot.
In the survey conducted by the Canadian think tank, South Africa improved its position by moving up five points in terms of investment attractiveness to 43rd out of 83 countries.
“This shows that working together with stakeholders in the sector, it is possible to realise South Africa’s potential of being in the top 20 in terms of its attractiveness to the investment community,” Mantashe said.
He said the improvement affirmed his government’s efforts made in the last 12 months of making efforts to turn around the country’s economy following a technical recession that ended last year.
“Mining, as an economic activity, is integral to this task to place our country on a higher growth trajectory, to create much-needed employment, reduce poverty and increase competitiveness and transformation of the industry,” the minister said.
The survey follows the launch of Vedanta Zinc International’s US$400 million Gamsberg Zinc Mine that President Cyril Ramaphosa opened in the town of Aggeneys in Northern Cape Province last Thursday.