The country’s minister in the presidency for planning, monitoring and evaluation, Jeff Radebe told a mining indaba ministerial symposium in Cape Town that investors should be assured that their exploration and mining rights would allow them to develop projects as well as trade their produce on profitable terms.
“At the same time, regulatory regimes must be used to transform ownership and ensure a much more equitable distribution of mining value created for citizens,” he said.
Deloitte said in a report that about 30 mining projects would be developed on the African continent by the end of 2018, totaling an estimated minimum of $18 billion.
The majority of these projects were expected to reach full production this year across different commodities, including nine copper mines, four diamond mines and four gold mines.
Meanwhile, Radebe said the development of mining projects cannot be the sole domain of the mining investor.
“African mining countries and mining corporations must establish long term sustainable partnerships that are beneficial to both shareholders and citizens of the host country,” he said.
Mathew Nyaungwa, Editor in Chief of the African Bureau from Cape Town, South Africa, Rough&Polished