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South Africa to invest more than USD 18 million to boost mining industry

Mining News - Published on Wed, 07 Feb 2018

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Journal du Cameroun quoted Mineral Resources Minister Mosebenzi Zwane as saying that South Africa has more than USD 18.33 million worth of investments in the pipeline for the mining industry which include the platinum group metals, industrial minerals, energy and non-ferrous metals. Addressing the 2018 Annual Investing in Africa Mining Indaba in Cape Town on Monday, Mr Zwane said the investment demonstrated that the country remained a critical investment destination.

Mr Zwane said that “We have bountiful reserves of platinum, ferrous and non-ferrous metals, which are all crucial for industrialization.” Mr Zwane added that “As host of over 80 percent of global reserves, South Africa has taken the lead in research and development for downstream beneficiation of PGMs principally through the Hydrogen South Africa flagship project which is focused on developing downstream beneficiation of platinum through its use in hydrogen powered fuel cells.”

Mr Zwane said the country was ready to partner with investors in this area and other priority value chains, including titanium, iron ore and jewellery.

The minister said his government had created an enabling environment for mining-linked manufacturing in South Africa.

Mr Zwane said that “Our energy supply has stabilized and there is sufficient energy for new enterprises.

Mr Zwane said that “We have established special economic zones with the relevant infrastructure, where investors will benefit from special incentives, infrastructure and proximity to raw materials.”

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Posted By : Amom Remju on Wed, 07 Feb 2018
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