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Minerals Council elaborates on support for B4SA initiative

The Minerals Council South Africa today hosted an online media briefing to share its position in support of the accelerated economic strategy developed under the Business for South Africa (B4SA), which is aimed at achieving higher levels of inclusive economic growth to recover from the Covid-19 crisis, and the economic crisis that preceded it.
Artyom Korshunov via
Artyom Korshunov via Unsplash

The Minerals Council has been actively involved in the development of the strategy and has identified eight critical areas for the mining sector that need to be addressed urgently if the recovery is to occur and output and jobs saved and expanded in the next four years.

In its presentation, the Minerals Council asked eight critical questions:

• What if the policy and regulatory environment was clear and workable?

• What if the industry was modernised?

• What if energy supply was reliable and affordable?

• What if rail and port infrastructure was adequate and reliable, and able to meet the demands of a growing economy?

• What if there was greater collaboration between the government and industry to support communities?

• What if exploration was encouraged and increased?

• What if government and industry collaborated more to fast track key projects?

• What if South Africa mining was to attract more investors?

Minerals Council CEO Roger Baxter noted that: "If the right actions are taken in answering all these questions, it could result in an additional $3.6 billion in mineral sales, R300m additional tax revenues, 70,000 jobs saved and an additional 26,000 mining jobs and 47,000 indirect jobs created by 2024. These steps require a co-operative and united approach by all industry stakeholders if we are to succeed.

"Never before have all industry sectors worked together, with such focus, on revitalising the South African economy. Never before have detailed practical steps been identified, where all role players can play a part, and where demonstrable and measurable progress can be achieved.

"Covid-19 could not have come at a worse time for South Africa, but in many ways it has created the burning platform around which we can all unite – business, government, labour and civil society – to achieve a better outcome for the future."

View the link to the presentation here.

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