Mineral Resources Minister Mosebenzi Zwane on Thursday commended the successful hosting by South Africa of the annual Investing in African Mining Indaba, which concluded in Cape Town.
The Indaba brought together both current and potential investors from across the globe to deliberate on mining on the African continent.
“This Indaba has affirmed South Africa’s status as a preferred investment destination. As government, we are heartened by this, and recommit to ensuring the necessary regulatory and policy certainty to attract even more investment into our country,” Zwane said on Thursday.
“Radical economic transformation and increasing black ownership in the sector remain a top priority for us as government, as well as advancing local beneficiation and ensuring the health and safety of mineworkers.”
Anglo American’s chief executive, Mark Cutifani, had on Monday criticised views of white monopoly capital in the South African mining industry, arguing that a growing number of ordinary black people were benefiting.
“Many people still don’t understand that the owners of most South African publicly listed mining companies are not the “Randlords” or magnates of the previous generations, but rather, ordinary pension and investment fund owners – that is, average South African citizens of all races – Black, White, Coloured and Indian,” Cutifani had said in his address on Monday.
“I hope people will understand that white and even black monopoly capital is a conversation that should be condemned to a difficult and dark South African past.”
Among the critical issues deliberated on were how to make gains from market rebound and strengthening commodity prices, fast-tracking the review of mining legislation and regulation through gazetting the Mining Charter next month, the country’s domestication of the African Mining Vision, health and safety, and others.
Support for the junior mining sector was also a special focus this year, in order to grow the sector and ensure it contributed to job creation and other priorities of government.
South Africa also concluded agreements with Angola and Japan on the sidelines of the Mining Indaba, to advance issues of mutual interest around mining.
And for the first time in eight years, representatives of the Alternative Mining Indaba successfully petitioned the Mining Indaba, the Chamber of Mines, as well as the Department of Mineral Resources, bringing the long-standing concerns about the plight of mining communities to the doorstep of investors.
– African News Agency (ANA)
