Nokukhanya Mntambo18 July 2024 | 16:26

COSATU calls for urgent interventions in mining industry

Union federation COSATU has called for urgent interventions in mining as the industry buckles under the weight of infrastructure challenges.

COSATU calls for urgent interventions in mining industry

Picture: © arturnyk/123rf.com

JOHANNESBURG - Union federation COSATU has called for urgent interventions in mining as the industry buckles under the weight of infrastructure challenges.

Underperforming state-owned enterprises, including Eskom and Transnet, have hit the mining sector, slowing down operations and exports.

The mining industry contributes a hefty 7.5% to the country’s GDP and accounts for some 60%, by value, of the country’s exports.

Earlier in the year, government announced plans to help resolve headwinds in the mining industry.

COSATU spokesperson Matthew Parks said that President Cyril Ramaphosa's Opening of Parliament Address must address these issues.

"We also need to make sure that the mining rights applications system announced by Minister Gwede Mantashe earlier this year is operationalised quickly because it’s been dysfunctional for quite some time and that has blocked getting in additional mining investments. Mining investments take some time to reach fruition – it’s not as simple as just buying a franchise."