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Mining industry committed to transformation

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SPONSORED | Mining sector leaders in SA recently joined Andile Khumalo, co-founder of sanlam Gauge, in an online workshop to deliberate on the transformation challenges facing the industry and to chart the way forward.

09 November 2021 - 05:58The SA mining industry plays a significant role in the country’s economy. According to the, in 2020 the sector employed in excess of 450,000 people, contributed about R361.6bn, roughly 7%, of the GDP and delivered R27.2bn in tax revenue. Yet, when it comes to transformation, it is mired by challenges and opposing views.

According to submissions made by mining companies, the industry was on average exceeding the targets stipulated in the second iteration of the Mining Charter “The B-BBEE Act and DTIC codes do not trump the MPRDA , and neither are they binding on mining companies. “We have created a lot of black industrialists and we have equipped them to have the ability and the flexibility to have capital and invest in other industries beyond mining,” he said.

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