Regulatory uncertainty a thing of the past – Mantashe

Minister of Mineral Resources, Gwede Mantashe. Source: GCIS

South Africa is open for business.

This was the message from minister of mineral resources, Gwede Mantashe, during his opening address at the 25th annual Investing in Africa Mining Indaba which opened in Cape Town today (Monday).

Assuring delegates that long-standing regulatory uncertainty was now something of the past, he called on investors to return to South Africa.

“Our primary objective is to increase investment in mining not just in South Africa but across the continent,” he said. “Mining continues to grow in structure and in numbers, but it has not been without challenges in recent years.”

Mantashe acknowledged these included the policy uncertainty in the country, but said there was understanding that the country had to work harder and he said a lot had been done since February last year to improve the overall investment environment.

Mining in particular has been at the top of the agenda and the Mining Charter has since been finalised.

“If you come to South Africa you know exactly what to expect and what to do,” he said. “The charter is in line with the expectations of investors. It is safe to invest in South Africa. It is a requirement we work with one another to make sure investment is comfortable and attractive. We have given investors regulatory and policy certainty. It is now up to us to invite investors.”

More than 6000 delegates are attending the Mining Indaba this week with more than 200 mining houses and 37 governments participating in the event.

Mantashe said while South Africa still had a lot of work to do, it was also important to acknowledge that much progress had been made.

Mantashe is joined at this year’s Indaba by President Cyril Ramaphosa, who is set to deliver the State of the Nation Address in the Mother City on Thursday, a move that has been seen as a clear indication of how serious government is in the hunt for investment.

-Liesl Venter

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