Cape Town – 6,000 delegates from 100 nations, are attending the largest mining conference on Monday in Cape Town.
Mineral Resources Minister, Mosebenzi Zwane, said in his opening address that the event presented an opportunity to find ways to revive the mining industry.
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He said the conference was coming at the time when the continent attempted to secure more foreign investors amid falling commodity prices.
The minister said Pretoria was working to ensure policy certainty through the review of the Mineral and Petroleum Resources Development Act.
Zwane said Pretoria has prioritised the finalisation of the bill as a matter of urgency to entrench the necessary stability.
Roger Baxter, Chamber of Mines CEO, highlighted the need for regulatory stability as one of the most pressing issues within the South African mining industry.
The delegates confirmed that the industry was facing an extremely uncertain future with thousands of jobs on the line.
The organisers confirmed that there are 1,000 fewer delegates attending than last year, with 45 African and non-African Government delegations participating.
They noted that the one week annual event, which was dedicated to the capitalisation and development of mining interests in Africa, would address the numerous problems facing the mining industry. (PANA/NAN)
