South African President preached on Tuesday at the commencement ceremony of the international conference “Investing in African Mining” or “African mining indaba” in Cape Town.
On the occasion, the South African President highlighted the mining sector and its crucial role in the economic development of African countries and industrialization across the continent.
In this sense, he stated that the mining sector has an important part to play in the quest for sustainability, provided that it is responsible, innovative, and agile.
He then presented statistics highlighting the importance of mining to South Africa’s national economy, as it contributes to the creation of half a million direct jobs and almost a million indirect jobs. Similarly, mining revenues boost GDP and enable the government to provide public services to citizens and carry out an economic recovery program.
However, the president said that despite this performance, the sector faces obstacles related to electricity shortages, inefficiencies in logistics, and illegal mining.
In this context, he called on all stakeholders to take responsibility for ensuring the growth of the sector, including ensuring a secure supply of electricity and improving the regulatory environment.