Mining industry the most transformed in SA – Chamber

2013-11-05 13:52

The mining industry is currently the most transformed of all the country’s major industries, the Chamber of Mines of SA (CMSA) has said.

“Whatever our shortcomings, and we know we have a way to go, we believe the industry is currently [more] extensively transformed than any of South Africa’s major industries,” CMSA’s outgoing president Mike Cutifani said today.

He was speaking at the organisation’s annual general meeting in Joburg.

“Our achievements on procurement from previously disadvantaged South Africans range from 39% to 67% on capital goods and services – against a target of 20% to 50%.”

Progress was being made across all pillars of the mining charter, ranging from ownership to housing and management transformation, Cutifani said.

Workplace stability was also important.

“Work stability is paramount. This was seriously damaged by the shock of the Marikana tragedy, an event that caused a little bit of the industry and a little bit of South Africa to die. We can never forget that day. We must never stop learning from it.”

South Africans needed to realise they were the “majority owners” of the industry.

“There is a fictitious perception that most of the money earned from the industry leaves South Africa and finds its way into the hands of foreigners and institutions. The facts tell a different story.”

Total mining income was slightly more that R497 billion last year.

“Total expenditure amounted to R488 billion, more than 80% of which was spent in the country.”

Cutifani said government and the industry had been talking more constructively.

“We have seen progress around the Mineral and Petroleum Resources Development Act (MPRDA). I am encouraged that we are in the right discussions ... I have gone from serious concerns in August to 80% more optimistic, but the job is not [yet] done.”

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