Home Business Matlosana Harmony Gold invests R7bn in North West to sustain 6k jobs

Matlosana Harmony Gold invests R7bn in North West to sustain 6k jobs

by Thys Khiba
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Matlosana Harmony Gold invests R7bn in North West to sustain 6k jobs

By Thys Khiba – The North West Premier Kaobitsa Bushy Maape confirmed Harmony Gold in the Matlosana Local Municipality has invested R7 billion to sustain 6000 jobs in the province.

While delivering his State of the Province Address (SOPA), Maape thanked economic players like corporations and entrepreneurs who have demonstrated their commitment to the province.

The mine is expected to spend over seven billion rand on two capital projects.

These include Zaaiplats which is an extension of the existing Moab-Khotsong operation which will see the lifespan of the mine extended by a further eighteen years, preserving over six thousand jobs.

The Kareerand expansion project will increase the lifespan of mine waste solutions by sixteen years creating various socio-economic opportunities for locals.

“The unemployment rate in our province is standing at around thirty five percent and this situation is unsustainable. Hence our drive to engage with different stakeholders to see how best we can deal with these challenges and in particular bring these numbers down. Our engagements with the private sector are encouraging because investment is continuing and this will assist us in dealing with the scourge of poverty and unemployment confronting our province” Maape said.

By Thys Khiba - Premier Kaobitsa Bushy Maape announced, during his State of the Province Address (SOPA), the North West province will be retaining the Provincial War Room on water to deal with water challenges in the province.

North West Premier Kaobitsa Bushy Maape

Maape believes that the economy is recovering at lower pace compared to the challenges faced by the province.

..the signs of recovery we see throughout sectors of the economy are testament to the resilience of many corporations and entrepreneurs who have kept the wheels of our economy turning despite challenges we outlined above.

“We wish to recognise the following who demonstrated their commitment to the province and made unparalleled contribution to the economic progress of the province and the well-being of its people,” said Maape.

Amongst other investments the Sedibelo Pilanesberg Platinum Mine invested R9.4 billion with 3000 job opportunities created in the Moses Kotane.

 

African Rainbow Energy is also investing about R2 billion in a solar plant in Ditsobotla Local Municipality.

Supreme Chicken in Tigane for the investment of R180 million ramping up economic activity, sustaining over two thousand locals; and many others.

Recently, S&P Global (2022) report indicated that with a GDP of R386 billion in 2021 (up from R189 billion in 2011), the North West province contributed 6.24 per cent to the country’s GDP of R6.19 trillion in 2021.

Meanwhile, the province has achieved the highest average annual growth rate of 8.1 per cent in 2021.

Speaking about different sectors, Maape indicated that tourism revenue has recovered from R1.1 billion in 2020 to R6 billion in 2022.

Matlosana Harmony Gold invests R7bn in North West to sustain 6k jobs

North West’s economic contribution to tourism:

International arrivals are to grow to an estimated 700 000 by end of 2023.
Tourism revenue is to grow to an estimated R8 billion by end of 2023.
Tourism-supported jobs to grow to an estimated 25 000 by end of 2023.

CENTRAL NEWS – NORTH WEST

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