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Zwane: SA still a critical destination for investors

Mineral Resources Minister Mosebenzi Zwane has told delegates the mining sector contributed to the South African economy emerging from a technical recession last year.

FILE: Mineral Resources Minister Mosebenzi Zwane. Picture: GCIS

CAPE TOWN - Mineral Resources Minister Mosebenzi Zwane says that South Africa remains a critical destination for investors.

He was delivering the opening address at the Mining Indaba which has started in Cape Town.

The event brings together investors, mining companies, governments and other players from around the world for a four-day focus on mining in Africa.

Zwane has told delegates that the mining sector contributed to the South African economy emerging from a technical recession last year.

“We have over R220 billion worth of investment in the project pipeline which includes PGMs, industrial minerals, energy and non-ferrous metals.”

Zwane has urged investors to back efforts aimed at increasing the amount of mining-related manufacturing and services.

He says that it is a goal of governments across Africa to integrate mining more meaningfully with the broader economy.

“We urge investors to work with us and to turn these policy directives into mutually beneficial programmes.”

Zwane says that investors can benefit from special incentives and energy is no longer an issue.

“We have worked to create an enabling environment for mining-linked manufacturing in South Africa. Our energy supply has stabilised.”

Zwane made no reference to the court battle over the Mining Charter, or the lag in finalising crucial mining legislation but he’s likely to address these during a question and answer session this afternoon.