Categorized | Business, Mining

Ministers Zwane and Davies unpack transformation plans at Mining Indaba

The world’s largest mining conference is being held in Cape Town this week from the 6th to the 9th of February. The Mining Indaba is held annually and hosts influential stakeholders such as investors, mining professionals, government officials, financiers and mining service providers. The Department of Mineral Resources (DMR) and Department of Trade and Industry (DTI) play a big role in shaping perception and are given a platform to communicate their respective departments’ vision and programme of action at the Indaba.

Minerals Minister, Mosebenzi Zwane gave the opening address and encouraged more stakeholder engagement between all parties in the mining industry. The minister used this opportunity to inform the audience about the revised Mining Charter. “With regard to the regulatory tool governing transformation in the sector, we have consulted extensively with stakeholders,” he said. Minister Zwane mentioned the final Mining Charter will be gazetted by March 2017 and will be reflective of the views of stakeholders, in the interests of South Africa and provide for investor certainty. “We call upon investors to come to South Africa and engage us frankly as we move towards transformation of our economy. We will have an open door policy,” said the Minister.

On beneficiation, Zwane said it remains a priority in South Africa. “We are inviting investors and mining companies, to look to this as an opportunity for partnership and a mechanism for ensuring stable and growing demand for mineral resources,” said Zwane. The minister said in their efforts to support investment in mining and beneficiation, they have a particular focus on the growth and promotion of small and medium sized enterprises. “We are of the firm view that a new era of junior to mid-tier sized mines is upon us”

Government has undertaken to develop a programme for Special Economic Zones, with an array of tax and investment incentives, it is hoped that together with bulk infrastructure, it will witness the growth of mineral benefactors.  An example of this is the Musina Metallurgical Complex, in the Limpopo Province.

Department of Trade and Industry Minister, Dr Rob Davies, said the current form of empowerment should change and it is time for minority shareholders to become real industry role-players. Minister Davies was speaking at the South Africa Investment Dialogue where former government spin-doctor Jimmy Manyi was MC. “We acknowledge that we’re not where we need to be as a department and we believe the Mineral and Petroleum Resources Development Act (MPRDA) amendment will help realise our goals,” said Davies.. He further stated the need for investment inclusiveness and to address inequality more radically.

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