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Mining industry gets R220bn investment

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Mining industry - [http://www.mining.com/wp-content/uploads/2014/03/increasing-digital-investment-to-change-mining-industry-survey.jpg] Mining industry - [http://www.mining.com/wp-content/uploads/2014/03/increasing-digital-investment-to-change-mining-industry-survey.jpg]

South Africa has more than R220 billion worth of investments in the project pipeline for the mining industry which include the platinum group metals (PGMs), industrial minerals, energy and non-ferrous metals.

Addressing the 2018 Annual Investing in Africa Mining Indaba in Cape Town on Monday, Mineral Resources Minister Mosebenzi Zwane said the investment demonstrates that the country remains a critical investment destination.

“We have bountiful reserves of platinum, ferrous and non-ferrous metals, all crucial for industrialisation.

“As host of over 80% of global reserves, South Africa has taken the lead in research and development for downstream beneficiation of PGMs principally through the Hydrogen South Africa (HySA) flagship project which is focused on developing downstream beneficiation of platinum through its use in hydrogen powered fuel cells,” Minister Zwane said.

He said the country is ready to partner with investors in this area and other priority value chains including titanium, iron ore and jewellery.

Minister Zwane said government has created an enabling environment for mining-linked manufacturing in South Africa.

“Our energy supply has stabilised and there is sufficient energy for new enterprises.

“We have established special economic zones with the relevant infrastructure, where investors will benefit from special incentives, infrastructure and proximity to raw materials,” Minister Zwane said.

The Department of Mineral Resources’ entity, the Council for Geoscience, has discovered clean drinking ground-water in Beaufort West.

“This is a result of the multi-disciplinary and integrated approach to our geo-sciences mapping in the country, which is yielding results of science responding to societal issues.

“We will be handing this resource over to that local municipality next week, so the community can have access to it,” he said.

He said with the current drought conditions currently experienced in the Western Cape, the discovery of clean drinking ground-water in Beaufort West is welcomed.


 

Source

SAnews.gov.za

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