President Cyril Ramaphosa says the mining industry in South Africa has registered growth in the past financial year despite many challenges such as the COVID-19 pandemic, climate change as well as geopolitical uncertainty.
The President addressed the second day of the Mining Indaba currently underway at the Cape Town International Convention Centre.
Video: President Ramaphosa addresses the 2022 Investing in African Mining Indaba
Ramaphosa says South Africa is making significant strides.
“As it responds to the effects of the pandemic, the mining industry also needs to manage the risks and potential benefits of rapid technological change, shifting market demand, climate change and geopolitical uncertainty. Like all other industries, the pandemic caused significant disruption to mining operations. But once again, the industry has shown its resilience. In South Africa, mining registered growth of 11.8 % in 2021, the highest across all industries. Last year the sector recovered production to almost pre-COVID levels.”
President Ramaphosa says mining remains a critical pillar of the economy.
“Mining is a significant contributor to export earnings, it is an important source of foreign direct investment, and directly employs nearly half a million people and we expect mining’s significance and contribution to our economy to grow.”