Gauteng – Mineral and Petroleum Resources Minister Gwede Mantashe expressed concern over recent job losses in the platinum sector despite the mining industry employing 489,000 workers.
Efforts are being made to minimize these job losses through discussions with social partners. Progress has been made by the National Energy Crisis Committee and National Logistics Crisis Committee to improve infrastructure supporting mining.
Amendments to the Mineral and Petroleum Resources Development Amendment Act are being drafted to strengthen weak areas, reduce red tape in the licensing regime, and improve the business environment for investors. These amendments aim to align with international best practices and benefit South Africa’s mineral reserves.
Mantashe emphasized the importance of increased exploration to leverage the country’s mineral resources for global advantage.
The South African Department of Mineral Resources and Energy, in collaboration with the Industrial Development Corporation, has established an exploration fund to support emerging and junior miners.
The government plans to engage with fund managers and investors to secure additional financing for the fund. An allocation of R72 million has been made to support artisanal and small-scale miners, particularly those owned by women and youth.
The Minister emphasized the importance of health and safety in mining operations, noting a decline in fatalities, injuries, and occupational diseases, although a recent incident at Impala Rustenburg resulted in a higher number of fatalities in 2023.
The department is working on developing standards to address road fatalities and combat illegal mining. In the upcoming financial year, the department has been allocated R8.84 billion, with a significant portion earmarked for transfers to public entities and implementing agents.
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