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R220bn investment for mining industry

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 Mineral Resources Minister, Mosebenzi Zwane says South Africa remains a critical investment destination Moneyweb Mineral Resources Minister, Mosebenzi Zwane says South Africa remains a critical investment destination

SA remains critical investment destination

February 05, 2018

Staff Reporter

Cape Town, South Africa: South Africa has more than R220 billion rands 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. This is according to Mineral Resources Minister, Mosebenzi Zwane.

Addressing the 2018 Annual Investing in Africa Mining Indaba in Cape Town on Monday (February 05, 2018), 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,” said Zwane.

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

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,” he 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 stated.

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