President Cyril Ramaphosa cited electricity shortages and inefficiencies in logistics as one of the challenges impeding the progress in the mining sector, during his keynote address at the Investing in African Mining Indaba in Cape Town.
Mining production in South Africa last year reached a record high of R1.18 trillion, boosting our GPD, exports and revenues. Despite this achievement, Ramaphosa said the industry is far from realising its full potential, saying “This is indicative of the challenges we need to confront and overcome.”
Ramaphosa said the government is determined to remove all impediments and to create an environment that will drive sustained growth in mining. He says they are taking steps to address challenges like electricity shortages and illegal mining.
This, he says, includes the importation of 300 megawatts of electricity from neighbouring countries and the government is working to increase this by an additional 1 000 MW.
Mining Indaba day 2:
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