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Like all other industries, the COVID-19 pandemic caused significant disruption to mining operations but the industry has shown its resilience, President Cyril Ramaphosa has said.
He made the remarks in his keynoted address at the Mining Indaba in Cape Town, South Africa, which is taking place at an important moment in the global recovery from the effects of the COVID-19 pandemic.
Across the world, almost every industry is having to adapt to new circumstances, confront new challenges, and be prepared to seize new opportunities, and the mining industry in Africa is no different.
“As it responds to the effects of the pandemic, the mining industry also needs to manage the risks and potential benefits of rapid technological change, shifting market demand, climate change, and geopolitical uncertainty. Like all other industries, the pandemic caused significant disruption to mining operations. But once again, the industry has shown its resilience,” President Ramaphosa said.
In South Africa, mining registered a growth of 11.8 percent in 2021, the highest across all industries. Last year the sector recovered production to almost pre-COVID levels. This was the result of significant collaboration between the Department of Mineral Resources and Energy and the Minerals Council South Africa, including efforts to keep the sector operational during the hard lockdowns in the pandemic’s early stages.
“After more than 150 years, mining remains a critical pillar of our economy. Mining is a significant contributor to export earnings, it is an important source of foreign direct investment, and directly employs nearly half a million people. And we expect mining’s significance and contribution to our economy to grow. Like many other parts of our continent, our country is abundantly blessed with vast mineral deposits that form the basis of the most important applications used in society and economies today. Mining companies see the potential in South Africa.”