The Minerals Council South Africa welcomes President Cyril Ramaphosa’s 2019 State of The Nation (SONA) speech.
Critical markers for the Minerals Council include the President’s commitment to fighting corruption and state capture, including the intended establishment of a special unit in the National Prosecuting Authority to deal with serious corruption.
We also welcome his emphasis on improving the ease of doing business in South Africa – dealing with issues such as regulatory certainty, infrastructure functionality and the cost of electricity.
We agree with the President that a critical challenge facing all South Africans is to ensure the creation of jobs across all areas of the economy – and we welcome the detail which he provided in this regard.
We agree that progress has been made with creating more regulatory certainty for the mining sector, particularly in respect of the new Mining Charter.
But there are issues that need to be resolved in that regard, such as recognition of continuing consequences of past transactions in respect of the renewal of mining rights.
We also agree that state-owned enterprises must be fully self-sufficient, and that a secure energy supply is critical. We welcome the acknowledgement of the risks that are posed by the state of Eskom, and that we need bold decisions and actions in this regard.
We look forward to understanding how government proposes to resolve Eskom’s debt challenges without placing irreparable pressure on South Africa’s fiscus.
The Minerals Council looks forward to the 2019 Budget Speech, and hopes
to hear more detail on these issues from Finance Minister Tito Mboweni later this month.
Says Minerals Council CEO Roger Baxter:
“This is the most detailed and comprehensive SONA in 20 years. We commit to working together to heal divisions, improve competitiveness and grow the economy”.