The Minerals Council South Africa has welcomed the statements made by President Cyril Ramaphosa during his address at the Investing in African Mining Indaba, in Cape Town, on Tuesday.

The Minerals Council said the President had, throughout his address, echoed the sentiments expressed by Mineral Resources Minister Gwede Mantashe on Monday, assuring stakeholders of government's commitment to creating an enabling environment for investing in mining, which would ultimately result in a thriving mining industry to the benefit of all South Africans.

It cited, in particular, the assurance provided by the President that government would not let State-owned utility Eskom fail, and the commitment to an imminent announcement of a package of measures to stabilise and improve the utility’s financial, operational and structural position to ensure security of energy supply for the country.

Moreover, the Minerals Council welcomed government’s commitment to address infrastructure constraints that limit mining and processing, including port, rail and electricity.

Ensuring that the mining industry reaches its full potential and realises its role in the future growth and development of the economy and the future of South Africa will require collaboration between all parties, it stressed.

Therefore, it highlighted the Mining Leadership Compact, signed on Monday, February 4, which commits all parties to play their part in working cooperatively and according to high standards of good governance to make South Africa’s mining industry competitive.

“We have engaged extensively with government and other stakeholders on the challenges that have prevented mining from reaching its true potential,” commented Minerals Council CEO Roger Baxter in statement on Wednesday.

“A collaborative approach is needed to develop and implement a solution that will see our industry grow and thrive in the future for the benefit of all. We need to get investment back in mining. We, as the industry, are fully committed to play our part.”