When South Africa’s mining industry performs well, South Africans benefit holistically. But mining, by its very nature, has a finite horizon, which is why everything that is taken out of the ground must be replaced by as much new material as possible to ensure an ongoing future. Since the dawning of South African democracy, mining has been shrinking. Initially, this was by design rather than accident.
But now is the time for South Africans to work together on an agenda that is “positive, productive, ambitious, and actionable”, as even the Australians are pleading happens Down Under, by the way. The kick-off must be about acknowledging the reality of the fast diminishing present situation, recognising the urgency of the task ahead, and determining a plan of action for the future.
The mining industry and government must include general industry, finance houses, supply chains, public market representatives, and key departments in determining the new modern advance. More noninstitutional investors must be incentivised to fund exploration and mining on public markets, as was the case when our mining industry was born. The key elements that determine competitiveness must be deeply embedded in the turnaround plan.