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ANC to call for curb on platinum, iron ore exports

Reuters

The ruling party is drawing up laws to force platinum and iron ore miners to sell "small amounts" of production to local processors at a discount.

The Department of Trade and Industry wants to ensure 'a certain percentage of production goes to the downstream industry at a developmental price'. (Reuters)

Director general of the department of trade and industry Lionel October said the idea was to encourage more domestic metal processing and grow industries such as platinum fuel cell production and auto manufacturing in order to create new jobs.

"Our competitive advantage is access to the raw materials. That is why we must give access to the raw materials at developmental prices," October told Reuters.

"We are proposing amendments to the minerals Act that will give the minister the power, as a condition of the license, [to ensure] that a certain percentage of production goes to the downstream industry at a developmental price," he said. – Reuters

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