SA committed to support investors

Tuesday, February 6, 2018

South Africa has reaffirmed its commitment to support investors and grow junior miners to be at the level of big mining companies.

Mineral Resources Minister Mosebenzi Zwane and Trade and Industry Minister, Dr Rob Davies, promoted the country’s minerals and mining industry during their investment Q&A session on the side-lines of the Mining Indaba at the Cape Town International Convention Centre (CTICC), which began on Monday.

“Both Ministers emphasised the importance of beneficiation of the country’s mineral resources to enhance the South African economy. 

“They also agreed that government has moved beyond talking about the beneficiation of mineral resources and there is a notable progress thus far, particularly on the development of a fuel cell bus prototype in partnership with Busmark, a local bus body manufacturer and titanium powder,” the Department of Mineral Resources and the Department of Trade and Industry said in a joint statement on Monday.

Minister Davies highlighted the recent announcement by Caterpillar of its investment to the tune of R1.3 billion over 10 years. The investment will empower local and black owned enterprises through Enterprise and Supplier Development. The investment is in line with the Broad-Based Black Economic Empowerment’s Equity Equivalence Investment Programme (EEIP).

“Through this deal, we will see Caterpillar, the world’s leading manufacturer of construction and mining equipment empowering our people.

“Four components have been identified for phase one: mining buckets, truck bodies, coolants and gensets,” Minister Davies said.

He said about 3 900 jobs -- both direct and indirect -- are expected to be created through this partnership.

Minister Davies said South Africa has opportunities for investment in any sector of the economy and government is ready to support investors through InvestSA, an initiative of the Department of Trade and Industry (the dti). 

He urged investors to be honest and operate legitimately for them to receive the country's full partnership and support.

Minister Zwane called for all stakeholder to work together to resolve all the challenges facing the industry in order to move the country and the economy forward.

He emphasised that he is open and ready to further engage with industry stakeholders on pertinent issues regarding the amendments of the Mining Charter III. – SAnews.gov.za

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