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During the vote on the 2019/20 Mineral Resources Budget in the National Assembly, Minister of Mineral Resources and Energy Gwede Mantashe reiterated his position that the industry South African mining is a booming industry, calling on the mining industry to focus on the exploration and exploitation of the country's world-clbad mineral deposits.
Mantashe
stressed the need to resurrect the exploration of Greenfield in order to capture
a minimum of 5% of the global share of exploration, which currently represents an average of around
$ 10 billion a year.
Mineral
resources has been allocated to a budget of R2 billion for the financial year 2019/2020
year.
The minister estimates that the department's investments during this calendar year will attract a minimum of 8 billion rand in South Africa's exploration sector.
To this end, the government deliberately decided to invest in the geoscience mapping program, through the Council of Geosciences.
The country's geoscience mapping program and online land registry system – the South
African System of Mineral Resource Administration (SAMRAD) – aimed at fostering an increased tempo
exploration in South Africa by ending the long administrative process
delays in applying for exploration rights and mining licenses,
has been for a long time
criticized for its dysfunction and its remoteness from the cadastres of the other African mining jurisdictions.
Stable
investment environment
Discuss the country's situation policy and regulatory frameworkMantashe said that these are stable and predictable and should result in a increase in mining investment.
Mantashe said that the main mining sector
industry – the Mineral and Petroleum Resources Development Act – as well as
Section 100 thereof, clearly define the requirements for
investors.
"Together with the stakeholders, we are
develop a strategy for growth and competitiveness; aware that growth,
transformation and competitiveness are all essential for long-term sustainability
in the mining sector, "he said.
Mantashe indicated, as an example, that an important
totaling 45 billion rand and creating around 4,000 permanent jobs.
jobs paid into the sector in the last year. Among them; 21.8 billion rand by Vedanta
Resources in North Cape; Sasol's 14 billion rand mine replacement program
at Shondoni and Impumelelo at Mpumalanga; and Exxaro's 3.3 billion rand mine
investment in Belfast, Mpumalanga.
"It's an endorsement from the South
Africa is an attractive destination for mining investments, "he said.
that between 2018 and 2020, 60 mineral resource projects are in the process of being
gas pipeline, with an estimated investment value of 110 billion rand and one
32,000 jobs for exploration, expansion, new mines and
treatment plants.
The ministry said it recognizes the growth of minor minorswho are important players in exploration.
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