Mining: goose that lays the golden eggs is dying

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Mineral Resources and Energy Minister Gwede Mantashe. Photo: Leon Sadiki
Mineral Resources and Energy Minister Gwede Mantashe. Photo: Leon Sadiki

BUSINESS

Over the past two decades, South Africa has forfeited R30 billion in investments in mining exploration and the development of new mines due to the dysfunctional system used to apply and grant mining rights and permits, says the SA Minerals Board.

Despite an increase in the demand for commodities and the high prices that raw materials are currently achieving, South Africa’s mining industry is dying a slow death. This is while the country has raw material deposits of almost R37 trillion.

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