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February 22, 2024
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SA welcomes improved mining ranking

Mineral Resources Minister Gwede Mantashe has welcomed South Africa’s latest improved global mining ranking.

This as the Fraser Institute released its annual global survey of mining jurisdictions on Friday.

In the rankings, in terms of the attractiveness of its mining policies, South Africa ranked 56th out of 83 countries surveyed. The country improved its ranking by 25 spots, compared to 2017’s 81st spot.

In the survey conducted by the Canadian think tank, South Africa improved its position by moving up five points in terms of investment attractiveness to 43 out of 83 countries.

“This shows that working together with stakeholders in the sector, it is possible to realise South Africa’s potential of being in the top 20 in terms of its attractiveness to the investment community,” said Mantashe.

The Minister said the improvements affirm government’s efforts made in the last 12 months.

“It is essential that all stakeholders in the mining industry and the broader society, come together to realise the call to grow South Africa together.”

“Mining, as an economic activity, is integral to this task to place our country on a higher growth trajectory, to create much-needed employment, reduce poverty and increase competitiveness and transformation of the industry,” said the Minister.

The survey follows hot on the heels of the launch of Vedanta Zinc International’s Gamsberg Mine near Aggeneys, which was opened by President Cyril Ramaphosa in the Northern Cape.

At the launch on 28 February, the President said investment in the mine is a step in the right direction towards changing the fortunes of the Northern Cape.

The President, who also toured the US$400 million facility, said the sun has yet to set on the mining sector.

“The operation that we are opening gives us confidence that the future of mining is bright.

“It gives us confidence that we can develop an industry that benefits communities as much as it produces returns for shareholders,” the President said, adding that government is committed to working with investors to ensure the growth of the sector.

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