MINISTER MANTASHE MEETS WITH INDUSTRY CEOs

Minister of Mineral Resources Gwede Mantashe met with the executive of the Minerals Council and CEOs in the coal and platinum sectors this afternoon to receive a briefing on the challenges faced by companies in these sectors, and to work on finding solutions for the long-term sustainability of the mining industry. This is part of the Minister’s ongoing engagements with the industry, to ensure that it is stable, transforming, competitive and continues to make a positive contribution to GDP and employment creation. “Coal remains a key commodity and is currently leading in terms of revenue generation. It is therefore critical that we proactively and continuously engage to address any issues emerging in the sector,” the Minister said. On platinum, South Africa accounts for 87% of the world’s known reserves and is the industry’s second largest generator of revenue. “We are working together with the sector to explore ways of creating more demand for this metal, because I am of the view that platinum has great prospects for growth.” “The importance of working together cannot be overstated. It is after all in our collective interest to ensure that the industry takes its rightful place in the economy, and that South Africa remains a preferred investment destination for mining,” the Minister concluded.

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