THE Minerals Council of South Africa said it had discussed cost pressures, infrastructure constraints and pricing conditions for coal and the platinum with mines minister, Gwede Mantashe, in a meeting it described as “welcome”.
CEOs from the coal and platinum sectors met with Mantashe on October 19 and reflects another step forward in the relationship between the government and the mining sector. The focus of the meeting was to “… find solutions that will ensure the long term sustainability, growth and transformation of the mining industry into the future,” it said.
“Following extensive, open and frank discussions, all parties acknowledged that the mining industry has always been, and continues to have the potential to be, a key catalyst for growth, transformation and development across all sectors in South Africa.,” it said. The coal sector is the largest contributor to the mining sector in terms of revenue.
The parties also discussed “… collaborative efforts to increase demand for platinum, given its rarity and myriad of uses, could propel the growth of an industry where more than half of mines are loss-making at current prices,” the council said.
“[A] healthy and viable mining industry would have the potential to attract more investment which will lead to growth, ultimately magnifying its contribution to the fiscus, transformation and the wellbeing of all South Africans,” said Roger Baxter, CEO of the Minerals Council.
