[miningmx.com] – A priority of government will be to finalise and adopt a beneficiation strategy as its official policy, President Jacob Zuma said on Thursday.
In his state of the nation address, Zuma said: “The mineral wealth of our country is a national asset and a common heritage that belongs to all South Africans, with the state as the custodian.’
He said South Africa had significant mining assets, currently valued at $2.5 trillion.
By 2009, the mining industry contributed more than thirty percent to the country’s total export revenue, and employed 2.9% of the country’s economically active population.
“Estimates suggest that our mineral resources are expected to be exploitable for over a century to come,’ Zuma said.
Zuma said that in order to take advantage of the potential government had endorsed the African Exploration, Mining and Finance Corporation as the State Owned Mining Company, that would undertake the mining of minerals of strategic significance.
