CAPE TOWN (miningweekly.com) – The right conditions will enable mining companies to deliver inclusive growth and meet the expectations of stakeholders, as well as deliver superior returns to shareholders, South32 president and COO Africa Mike Fraser said on Monday.
In delivering a forceful address at the Investing in African Mining Indaba, Fraser reinforced mining’s might but emphasised that it is absolutely essential it is backed by a supportive legislative, regulatory and administrative environment to realise its full potential.
“We believe that South Africa’s mining industry still has the potential to grow. The resources are here and the challenge is to work together to create an environment where the minerals that are underground are converted into wealth above ground and thereby create shared value for all,” he told the conference that is being attended by Creamer Media’s Mining Weekly Online.
Creating shared value through effective collaboration is achievable in his view on the basis of mining still representing a significant vehicle for driving inclusive growth. But to do this, South Africa must become globally competitive through the introduction of an environment conducive to investment.
Mining already provides a quarter of South Africa’s exports and nearly half of its foreign currency earnings come from the mining sector, which enables the country’s participation in global trade.
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