Image credit: Mining Indaba
He told parliament Thursday without providing more details on the draft that South Africa had extensive reserves of some of the world’s most valuable minerals and extensive mining expertise.
“We are working with the industry to promote renewed investment through a conducive policy and regulatory framework,” he said.
“This includes efforts to reduce current timeframes for mining, prospecting, water and environmental licences.”
The South African Minister of Mineral Resources and Energy Gwede Mantashe said in February 2020 at the African Mining Indaba that the country is planning to expand exploration activities.
“We want to see more exploration taking place,” he said then.
“The intention is to grow the national target from below 5% to respectable levels within the next few years. Government has, therefore, invested in the integrated and multi-disciplinary geoscience mapping programme.”
South Africa is a leading producer of platinum, gold and diamonds, among other minerals and precious metals.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
