The major mining companies have been taken to task for not spending anything on new mining exploration.
The issue has been raised at the start of the Junior Indaba, a two day mining conference that is being held in Johannesburg.
Former Harmony Gold CEO Bernard Swanepoel, who’s chairing the Junior Indaba, says government issues thousands of mining licenses in South Africa, and yet very little mining exploration occurs.
“The companies that make up the Chambers of mine are currently not exploring in South Africa. Exploration money goes to the jurisdiction where the regulation is the friendliest. There has been more shopping centres built with that scheme than exploration being done and this is a country with deep mining history.”
Speaking at the opening of the event, Deputy Minister of Mineral and Resources, Godfrey Oliphant, says they are confident that the new Mining Charter will be finalised before the end of this year, despite the challenges.
This conference addresses the challenges faced by junior and small scale mining companies.
Government has had to redraft the Mining Charter after various objections from mining companies over the past few years.
The deputy minister also says government has heard the voices of the Zama-zama’s and is looking to formalise illegal mining where it is safe to do so.
