The Minister of Mineral Resources Gwede Mantashe met with the Minerals Council of South Africa and CEOs in the iron ore, manganese, gold and diamond sectors to discuss constraints and possible opportunities for growth.
The meeting also provided Mantashe with an update on the current state of these sectors.
In addition the meetings are part of Mantashe’s ongoing engagements with the industry, to ensure that it is stable, transforming, competitive and continues to make a positive contribution to GDP growth, foreign earnings and employment creation, among others.
“We are paying a lot more attention to detail,” comments Mantashe.
“The contribution of the sector to the latest GDP figures means we need to work that much harder to improve mining and its overall contribution to the economy.
According to GDP data released by StatsSA, a decline in production in mainly gold, platinum and iron ore saw the industry’s contribution fall by 8,8% in September 2018, and contributed -0,7 of a percentage point to GDP growth.
“Mining is a major economic sector and it’s up to us to facilitate the growth of the industry and ensure that together we move the industry forward,” Mantashe continues.