Mining is central to South Africa’s economy and social well-being, driving economic progress and development for much of the country’s history. This was emphasized at the Minerals Council South Africa’s 134th AGM in Johannesburg.
A R1 million increase in mined output results in 2.5 new job opportunities. For every mining employee, three to four household members benefit, lifting seven to ten people out of poverty. The mining industry leads in non-mining related investments, particularly in private-sector energy. Mining has around 90 renewable energy projects, totaling 15.8 GW and worth R275 billion, accounting for 70% of the total project line-up.
Minerals Council South Africa CEO Mzila Mthenjane highlighted the decline in mining output due to infrastructure constraints. He called this a tragedy resulting in job losses. “A thriving industry is characterized by investment and growth. We need fresh mineral deposits found by energetic prospectors and a vibrant exploration sector,” Mthenjane said.
South African mining employs 480,000 people. Increased investment and growth could significantly boost job creation and reduce poverty. Mthenjane emphasized the need to revitalize exploration to leverage South Africa’s mineral endowment, contributing to the global transition to a lower carbon future.
Outgoing Minerals Council president Nolitha Fakude, who served three terms, highlighted mining’s role in economic progress. “Mining has made fundamental changes to the way it engages and shares the benefits of the nation’s mineral wealth,” Fakude said.
Dr. Nombasa Tsengwa, CEO of Exxaro Resources, was elected president of the Minerals Council. Mpumi Zikalala, CEO of Kumba Iron Ore, and Richard Stewart, chief regional officer of Sibanye-Stillwater, were elected as vice presidents. Paul Dunne, CEO of Northam Platinum, and Themba Mkhwanazi, Anglo American Africa and Australia regional director, were re-elected as vice presidents.
“The high caliber of leadership in the mining industry is one of our greatest strengths,” Mthenjane noted. “These leaders profoundly impact the future direction of the mining industry and the country.”
Mining remains a crucial pillar of South Africa’s economy, offering significant opportunities for job creation and poverty reduction. The industry’s investment in renewable energy projects highlights its role in the country’s economic and social well-being.
Source: Mining Weekly
