By Phenyo Selinda
Cape Town, 19 July 2024 – The Minister of Minerals and Petroleum, Gwede Mantashe, has emphasised the critical importance of gas and oil exploration for the future of South Africa’s economy. Speaking during a debate on the Opening of Parliament Address, Mantashe outlined how tapping into the country’s petroleum resources could transform the economic landscape.
“Our country is endowed with petroleum deposits that are not yet exploited. We appeal to South Africans to appreciate that our quest for exploration of oil and gas deposits is not a nice to have,” said Mantashe. “It is important to turnaround the composition of our economy and therefore, that will translate into growth of the economy.”
Challenges from Foreign-Funded NGOs
Mantashe expressed frustration with what he described as “foreign funded NGOs that block exploration of gas and oil.” He argued that these organisations hinder economic development and stressed the need to address these obstacles. “That is blocking economic development and we must confront it and deal with it. That doesn’t mean we are not serious about responsible mining and exploration. We must accept, unreservedly, the need for mining and exploration that is conscious in preserving the environment while accelerating development,” he said.
Environmental Responsibility
Despite advocating for increased exploration, the Minister highlighted the importance of balancing development with environmental preservation. He assured that the government is committed to responsible mining practices that safeguard the environment.
Economic Empowerment
Mantashe also addressed the significance of black economic empowerment in South Africa’s growth strategy. He stressed that as the country tackles unemployment and develops a framework for economic growth, empowering black South Africans should remain a priority. “As we address the question of unemployment and develop a framework for economic growth, we should bear in mind that involving black South Africans in economic activity is not a favour. It is a necessary intervention because for many years…they were not active in economic activity so therefore the question of black economic empowerment and affirmative action is a necessary intervention in the economy,” he stated.
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