Zuma: Mining has a bright future in SA

The country's mining industry is poised for growth, President Jacob Zuma said on Tuesday.

"The R20-billion investment in the diamond industry, the biggest single investment in the diamond industry in decades, signals that indeed our mining sector is poised for growth, and that it has a bright future," he said.;

"The investment will no doubt boost diamond production, from which the country has lost its eminence in recent years."

Zuma was speaking at the launch of the construction phase of the De Beers Venetia underground diamond mine in Musina, Limpopo.

He said the investment would boost diamond production and showed the country was an investment destination of choice.

"Working together, we have to ensure that our mining sector grows even further. We must therefore provide the right environment for growth. This includes the implementation of transformation measures and also to promote labour market stability in the sector," said Zuma.

Democratic society
The president took the opportunity to condemn the violence in the North West's mining industry.

He mentioned the National Union of Mineworkers branch leader who was killed at Marikana, near Rustenburg, last week.

"Such incidents have no place in a democratic society like ours."

Zuma said the shooting at Marikana last year, when police killed 34 people, almost all of them striking mineworkers, and wounded 70, reminded the country that work needed to be done to improve the lives of mineworkers and surrounding communities. Transformation in the sector also needed to be accelerated.

"Accordingly, the implementation of the Mineral and Petroleum Resources Development Act, the social and labour plan mechanisms and the Mining Charter remain immensely important to ensure growth and sustainability," he said.

"Fortunately, investors in the mining industry are aware that they should, in terms of the law, redress past imbalances in the industry."

South Africa's legislation required that investors commit to the Mining Charter and the social and labour plan and sound environmental management.

We make it make sense

If this story helped you navigate your world, subscribe to the M&G today for just R30 for the first three months

Subscribers get access to all our best journalism, subscriber-only newsletters, events and a weekly cryptic crossword.”

Sapa
Guest Author

Related stories

WELCOME TO YOUR M&G

Already a subscriber? Sign in here

Advertising

Latest stories

Art and big business: the best of bedfellows

Corporates’ collections are kept relevant by sharing the works with the public and supporting artists

AfriForum in border dispute with SANDF

Civil group alleges that SANDF and SAPS members have been pressured to stop cooperating with its civilian safety structure

Off to the races! What to expect from 2022 Durban...

The Durban July is back, which means the glamour and high fashion are back too.

Reinventing the wheel: Google tech gets clunky

The XC60 is everything you would expect – except for one puzzling inclusion
Advertising

press releases

Loading latest Press Releases…
×