Сyril Ramaphosa: South African mining industry has undergone significant changes

South African President Cyril Ramaphosa was speaking at the 30th Investing in African Mining 2024 conference in Cape Town.

For 150 years, the mining industry has been the backbone of the South African economy. It currently contributes approximately 7.5 per cent to GDP and its share of South Africa's exports is approximately 60 per cent by value.

The government, working with entrepreneurs and workers, has undertaken wide-ranging reforms in the industry over the past 30 years, the country's leader said.

The mines currently employ approximately 476 000 people. This is reported by Prensa Latina, a partner of TV BRICS.

Last year, the government set several goals to develop the industry and increase its global competitiveness. One of them is to ensure reliable energy supply.

The Department of Mineral Resources and Energy has established new generating facilities with a total capacity of 1 384 MW, which are now under construction or already in operation.

Another is to accelerate economic reforms.

South Africa's national energy regulator has registered at least 1 312 generating facilities with a total capacity of over 6 300 MW. About a third of that capacity is used in the mining industry.

"Africa has the potential to be the fulcrum of the global energy transition, with mining at its core"

Cyril Ramaphosa South African President