SA welcomes improved mining ranking
South Africa has jumped 25 positions in terms of its mining policy attractiveness, according to the Fraser Institute annual global survey of mining jurisdictions.
The country is now ranked 56th out of 83 countries surveyed, compared to a dismal 81st spot in 2017. South Africa has been dogged for the past few years by policy uncertainty, particularly surrounding the primary legislation related to the industry - the Mining Charter and the Minerals and Petroleum Resources Development Act. There was a significant effort by the Department of Mineral Resources and Minister Gwede Mantashe to stabilise the industry in 2018 to make it more attractive to foreign investors.
In the survey conducted by the Canadian think tank, South Africa improved its position by moving up five points in terms of investment attractiveness to 43 out of 83 countries.
“This shows that working together with stakeholders in the sector, it is possible to realise South Africa’s potential of being in the top 20 in terms of its attractiveness to the investment community,” said Mantashe.
“It is essential that all stakeholders in the mining industry and the broader society, come together to realise the call to grow South Africa together. Mining, as an economic activity, is integral to this task to place our country on a higher growth trajectory, to create much-needed employment, reduce poverty and increase competitiveness and transformation of the industry,” said the minister.
Source: SAnews.gov.za
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