Major mining companies not investing in SA mining industry: Mantashe

Minister of Minerals Resources Gwede Mantashe says he is concerned that major mining companies, who are investing on the continent, are not investing in the South African mining industry.

The minister was addressing delegates at the 2018 Mine Occupational Health and safety conference underway in Benoni, East of Johannesburg.

Mantashe says the sector is lagging behind in competitiveness and is loosing out on major investment opportunities.

He urged South African mining CEOs to talk positively about the industry outside the country, as this can help boost investor’s confidence for the sector.

He says: “I am hoping we will do enough so that in the next rating of South Africa in the mining sector we will be rated better because our rating informs the decisions of the investors.”

“When I went to the Africa South Under conference in Australia, one thing I picked up there without showing my surprise is that mega mining companies are moving to the continent and not here. If we do not have the correct narrative of ourselves, we are going to lose out,” adds Mantashe.

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