New Age2.png Mining sector is pillar of economy Mining remains critical to African development, contributor to continent's growth Mosebenzi Joseph Zwane, The New Age, Johannesburg, 8 February 2016 For nearly 150 years, mining has been a pillar of the South African economy. The sector has been the foundation for much of the country's economic infrastructure and has supported important industries such as finance and manufacturing. In fact, the sector directly contributed to the establishment of the Johannesburg Stock Exchange in the late 19th century. As a result, its importance to the South African economy cannot be overstated. The South African government values the mining industry's contribution to the economy. Together, we should be working to stabilise the economy and position it for growth. Mosebenzi Joseph Zwane, Minister of Mineral Resources We extend a warm welcome to delegates from all over the world and from Africa in particular to this, the biggest gathering of the mining sector on the African continent. We are excited at the opportunity to engage with all of you not only on the current challenges, but on the opportunities that lie ahead. Since its transition to democracy, South Africa has made significant strides. Its economy is steadily on the rise. In place is the national development plan and other supporting programmes such as the nine point plan, aimed at growing the economy. In 2010, the Citibank Group affirmed South Africa as the wealthiest mining jurisdiction, with total mineral reserves estimated at $2.5 trillion (R40 trillion). This excludes its energy commodities. Available geological information indicates that South Africa remains highly prospective for the discovery of more world-class deposits. It is clear from this that the industry will continue to play a significant role in the economy providing the drive for the development of other sectors. With all the milestones we have achieved within the sector, as well as the potential going forward, we are cognizant of the work that lies ahead to ensure that the sector continues to shine. Save jobs The slump in the global economy has filtered through to the South African economy. As a result, a number of large mining companies have begun issuing section 189 notices in terms of the Labour Relations Act. Since my appointment, I have adopted a single-minded approach to these challenges and have endeavoured to meet with all the relevant stakeholders in the mining industry. My mission is clear, the government, together with organised labour and organised business, should do all it can to save jobs or minimise job losses and to reduce the impact on affected employees. Each employee without a job is a household without a breadwinner. We urge all parties to remain committed to this vision as it is in our common interest to see a thriving, sustainable mining sector re-emerge. Together we have overcome many challenges in the past, and I have no doubt that we will continue to do so. The Investing in Africa Mining Indaba 2016 presents South Africa with an opportunity to have discussions with global players in the sector, to share lessons learnt and best practise we can adopt to ensure the sustainability, innovativeness and global competitiveness of this significant pillar of the economy. For the continent, the opportunities are immense. Mining remains critical to African development and continues to be a major contributor to the growth of the continent. However Africa's mineral potential still remains underexplored. We must therefore double our efforts to ensure that the continent realises its full potential in this regard and that Africa and her people benefit from the wealth of mineral resources. The challenges we face are unprecedented and as such we require new and innovative approaches to meet them. Service to the people of South Africa is both an honour and a privilege for me. We wish to assure you that South Africa is indeed open for business. . Mosebenzi Joseph Zwane is the Minister of Mineral Resources From: http://tnaepaper.co.za/DRIVE/main%20edition/08022016/epaperpdf/22.pdf -- -- 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.
