Mantashe lauds mining industry for its transformation efforts
Minerals and Energy Minister Gwede Mantashe noted that black participation in ownership patterns in the mining industry has jumped to 39% since 2004.
Minerals and Energy Minister Gwede Mantashe addressed delegates at the Mining Indaba in Cape Town on 6 February 2024. Picture: @DMRE_ZA/X
CAPE TOWN - Minerals and Energy Minister Gwede Mantashe has lauded the mining industry for its transformation efforts, as black ownership shows significant improvement.
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Mantashe boasted to delegates at the ongoing Mining Indaba in Cape Town on Tuesday about strides made by the industry post-1994.
He announced that black participation in ownership patterns in the mining industry has jumped to 39% since 2004 when the Mining Charter was first established.
That figure stood at a mere 2% before then.
Mantashe said transformation and wealth distribution in the industry remained critical.
"After nearly 150 years of mining in South Africa, during which black participation was limited to mineworkers, all we would do was to put our skills on the ground for us to convert investment of shareholders into wealth. That’s all we would do."