An Operation Phakisa (Hurry Up) for the mining sector, aimed at realising its full gross domestic product (GDP) potential, was on the way in consultation with all the key stakeholders, including the Chamber of Mines and organised labour, Minister in The Presidency Jeff Radebe said last week.
Speaking at the third Mining Lekgotla gala dinner, in Midrand, in the absence of President Jacob Zuma, Radebe said government was already in the midst of its first Phakisa oper-ation, aimed at growing the ocean economy’s con- tribution to GDP from R54-billion in 2010 to up to R177-billion by 2033, as well as increasing the ocean economy’s employment complement from 300 000 in 2010 to up to one-million in 19 years’ time.
To thunderous applause, Radebe said that mining would have a shorter Phakisa horizon of 2025 and a target several times higher than the current GDP, which had declined considerably from the 1970s.
The decline was even noticeable in terms of a recent comparison, having shrunk from a 6.7% contribution to GDP in 2000 to 5.3% in 2010.
Speaking forcefully, Radebe urged the Mining Lekgotla to come up with bold suggestions, as well as clear implementation plans and timelines.
The Phakisa concept drew on the experience of the Malaysian government and involved all stakeholders in implementing detailed action plans that were then rigorously monitored.
Radebe said government was open to per-suasion on policy and regulatory frameworks.