Business Report writes that SA’s mining industry is focusing on a total of 60 mineral resources projects between 2018 and 2020, with an investment estimated value of R110 billion and a projected creation of 32,000 jobs.
Mineral Resources and Energy Minister Gwede Mantashe said during his budget speech vote on Wednesday that the planned projects would involve exploration, expansion, new mines and processing plants which would be resuscitated to capture at least 5% of the R141.8bn a year global industry. He stated that the industry was not on its deathbed, and the government was willing to invest more in the sector. “Mining is a sunrise industry,” Mantashe said. “We must prospect, explore and exploit the world-class mineral deposits we have. We will resuscitate green field exploration. The investment will attract a minimum of R8bn into the exploration sector.” But, Mantashe acknowledged the tough times facing the industry, citing the economy's 3.2% contraction in the first quarter of 2019. Mantashe said employment figures for the quarter, however, looked positive and that of the 22,000 jobs created, 6,000 had been in mining.
- Read the full original of Banele Ginindza’s report in the above regard at Business Report
- Read too, Mineral Resources budget prioritises exploration, beneficiation, licensing for ‘sunrise’ industry, at Mining Weekly
- And also, Mineral Resources budget does not fully account for mining sector concerns, says DA, at Mining Weekly
Get other news reports at the SA Labour News home page