President Cyril Ramaphosa
President Cyril Ramaphosa delivered a powerful message to leaders in the African mining industry at the 30th Investing in African Mining Indaba in Cape Town on Monday. In his speech, the President acknowledged the challenges facing the industry and outlined the government’s commitment to addressing them.
The mining sector is a significant contributor to South Africa’s economy, accounting for 7.5% of the country’s Gross Domestic Product (GDP) and 60% of its exports. However, the industry is currently facing headwinds due to commodity price volatility, high energy prices, geopolitical tensions, and global cost of living crisis.
President Ramaphosa highlighted ongoing challenges such as the energy crisis, port and rail bottlenecks, illicit mining, and infrastructure vandalism. He emphasized the government’s efforts to address these issues, including measures to improve existing energy generation and add new electricity capacity.
Additionally, the President addressed the impact of illegal mining and copper cable theft on the industry. He noted the establishment of a specialized police unit to combat illegal mining and collaboration between the private sector, Transnet, and security services to improve security against cable theft.
Regarding logistics, President Ramaphosa stated that the system is undergoing rapid and fundamental changes to improve efficiency and position South Africa as a leading player in global markets. He emphasized the government’s commitment to implementing transformative reforms to the logistics sector to support the growth of mining and other industries.
The President concluded his speech by emphasizing the crucial role of mining in building the economy of the future and expressing his commitment to collaboration with the industry for inclusive growth, transformation, and innovation in South African mining.
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