Pretoria - Minister of Mineral Resources and Energy Gwede Mantashe says mining and energy investment conferences set to take place in three provinces must go beyond “pledges and commitments” to realising actual investments.
He was giving a keynote address at the opening of the Limpopo leg of the Mining, Energy and Industrialisation Investment conference in Polokwane yesterday.
This is the second year the conference, held under the theme “Realising Limpopo’s Investment Potential in Mining and Other Strategic Sectors of the Economy”, has been held. It is meant to attract direct mining and energy foreign investment into the province.
Last year, several investors expressed interest in investing in the province, as well as in the North West and the Northern Cape, where the other conferences will take place.
Mantashe, who was joined by Limpopo Premier Stan Mathabatha and Economic Development MEC Thabo Mokone, said many ideas were discussed last year and investments had to be realised.
“We deliberated on a few issues last year and we need to move them beyond pledges and commitments to become realised investments.
“At the inaugural conference we deliberated on issues geared towards promoting investment in the mining and energy sectors in this province.
“That conference made remarkable observations that can help drive investment in this province,” Mantashe said.
Among the issues discussed last year were the overall strategic role of mining in the economy to boost other economic activities; acceleration of manufacturing and increasing levels of employment; and the need to address energy poverty and ensuring security of energy supply to society.
Mantashe said there had been an agreement that this could only be possible if the structural impediments on the economy, which reduced the black majority to labour seekers, were tackled.
“We should have a system that allows for economic redistribution through the new entry of black miners at all levels.”
Mantashe urged mining companies to prioritise consultations with communities.
“We must ensure good governance in municipalities for them to attract investments. We resolved last year on economic diversification as a driver for local development,” he said.
In his welcome address, Mathabatha said the conference would take stock and assess the progress of the Mining Indaba held last year.
He said the conference would look at ways to unlock opportunities provided in mining and industrialisation as a key driver of the economy.
“We can’t continue to have mines that process their deposits outside the province. That has to change if we need to have serious development, “ Mathabatha said.
The conference ends today.
Pretoria News