Mineral Resources Minister Gwede Mantashe says the department and industry stakeholders are paying greater attention to detail, given that the contribution of the mining sector to gross domestic product (GDP) does not reflect its potential.
According to GDP data released by Statistics South Africa earlier this week, a decline in production in mainly gold, platinum and iron-ore saw the industry’s contribution fall by 8.8% in September.
The Minister met with representatives of industry body Minerals Council South Africa and CEOs in the iron-ore, manganese, gold and diamond sectors on Thursday to discuss the current state of these sectors, as well as constraints and possible opportunities for growth.
Meetings of this sort is part of Mantashe’s ongoing engagements with industry to ensure that it is stable, transforming, competitive and continues to make a positive contribution to GDP growth, foreign earnings contribution and facilitate employment creation, says the Department of Mineral Resources.