New Age2.png 50-trillion worth of untapped minerals in SA: Minister Not a sunset industry Tiisetso Manoko and Siphiwe Mchunu, The New Age, Johannesburg, 5 February 2016 Minister of Mineral Resources Mosebenzi Zwane said mining in South Africa is not a sunset industry, the country has close to 50-trillion worth of mineral resources which remain untapped beneath the soil. "We have also made shale discoveries in the Northern Cape, Western Cape and parts of Free State. We also have made significant offshore oil discoveries," said Zwane during The New Age Business Briefing on Friday. Minister Zwane said that the country's minerals belong to all communities and said it was essential for government to ensure that people benefits. Mosebenzi Zwane.jpg Minister of Mineral Resources Mosebenzi Zwane "Mining communities should reap the benefits of being close to the minerals resources, however that does not mean mining communities have exclusive rights to the minerals, they should be enjoyed by all," Zwane said. The Minister also said that "the year 2016 is going to be a tough year and it requires all stakeholders to work together." This comes in light of looming job loses across the mining sector and continued drop in commodity prices. He indicated that the government is prepared to take robust action against mining companies who continue to not comply with The Mining Charter. Asked whether the Ministry would go as far as revoking the mining licenses of those who are not complying, Zwane said the department would take on a "Use it or Lose it" approach. Mining Indaba The upcoming Mining Indaba scheduled to begin on Sunday, is being touted as forum by the Ministry to engage with various stakeholders both local and international in one room and begin to move with expediency towards greater synergy between both sectors. Small Business Chamber of Commerce and Industry South Africa Chief Executive Officer Israel Modisaotsile said that they are hopeful that the Mining Indaba will reduce the unemployment rate especially among young people. "Our standing points are that young people need to be given preference in reducing unemployment especially in the mining sector, secondly communities where mines are operating are developed, schools need to be built, health facilities need to be revamped, social responsibility needs to be at the core of these mining houses," Modisaotsile said. Economic analyst Clive Ramathibela Smith said mining companies have done very little in the way of transformation and community development, post 1994. Ramathibela-Smith believes that it will be vital for government to engage multinational mining companies on this matter if the sector is to regain any positive footing with mining communities around the country. Meanwhile Minister Zwane also said that issues of transformation and safety are at the core front of his agenda as well as curbing job losses. "This sector need to be transformed, we all need to work together with the relevant stakeholders, we are not happy as the department with what we have achieved in the mining charter especially during this time with job losses looming," Minister Zwane said. The Mining sector is threatened with close to 32 000 job losses in 2016, however the ministry is confident that loses can be averted once stakeholders can be engaged adequately. The minister applauded the recent Tageta acquisition of Optimum Coal which managed to save 500 jobs from certain loss. From: <http://www.thenewage.co.za/50-trillion-worth-of-minerals-remain-untapped-mi nister/> http://www.thenewage.co.za/50-trillion-worth-of-minerals-remain-untapped-min ister/ -- -- You are subscribed. This footer can help you. Please POST your comments to [email protected] or reply to this message. You can visit the group WEB SITE at http://groups.google.com/group/yclsa-eom-forum for different delivery options, pages, files and membership. To UNSUBSCRIBE, please email [email protected] . You don't have to put anything in the "Subject:" field. You don't have to put anything in the message part. All you have to do is to send an e-mail to this address (repeat): [email protected] . --- You received this message because you are subscribed to the Google Groups "YCLSA Discussion Forum" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. For more options, visit https://groups.google.com/d/optout.
