Johannesburg, South Africa — 31 May 2013
The Chamber of Mines of South Africa has welcomed President Jacob Zuma’s announcement of initiatives to support the country’s mining industry.
Fin24 quotes Chamber president Mark Cutifani as saying: “The future of the mining industry is in our collective hands, and by working together we can ensure its sustainability and return it to profitability for the benefit of all South Africans.”.
At a briefing about the economy and developments in the mining sector yesterday, Zuma told reporters South Africa needed a stable mining industry to increase economic growth.
He said the sector remained the cornerstone of the economy, “even though now smaller, relative to the size of the overall economy.”.
The mining industry was adversely affected by the depressed global economic growth, especially in Europe, and had a bad 2012 with the deaths of 50 people during the Marikana strike in the North West province.
However, Zuma pointed out, the government had acted to address labour relations in the sector.
Deputy president Kgalema Motlanthe was tasked last week with leading talks between the government, the unions and mining companies, assisted by the ministers of finance, labour and mineral resource ministers.
“The fact that the president has mobilised key members of his cabinet to support in this process is indicative of government’s commitment,’” said Cutifani.
“We are confident that the intervention by these ministers, together with mineral resources minister Susan Shabangu as regulator of the mining sector, will help to build the confidence of foreign investors in South Africa as an investment destination and guide the ongoing labour processes."
He urged business, organised labour and the government to hold constructive discussions during the wage negotiation period.
Source: Fin24. For more information, click here.