covid-19 south africa

Exploration spend in South Africa has undoubtedly taken a knock as a result of the COVID-19 pandemic, with S&P Global Market Intelligence predicting a 29% decrease in global exploration spend for 2020.

However, as a crucial first step in the project cycle, exploration will become a key focus for the country as the Department of Minerals Resources and Energy (DMRE) looks to release a six-point exploration strategy aimed at enabling and expediting exploration to take place within South Africa, attendees of The Junior Indaba, heard today.

According to DMRE Minister Gwede Mantashe, there are plans afoot to develop an exploration implementation plan, together with the Minerals Council South Africa and the Council for Geoscience. It is Mantashe’s desire to release this strategy sooner rather than later, to give the mining sector an opportunity to comment on whether or not it believes the strategy provides a workable solution.