SA mining sector’s contribution to GDP slid in 2023, partnership with govt to boost growth
Amid electricity and logistical constraints, as well as an increase in crime and corruption, the mining sector contributed only 6.3% to South Africa’s GDP in 2023, down from 7.3% in 2022, Minerals Council South Africa CEO Mzila Mthenjane noted in a presentation at the Africa Down Under conference, in Perth, Australia, on September 4.
He said the Minerals Council was working with the South African government on the ambition of increasing economic growth to between 3% and 5% and enabling the creation of about 2.5-million jobs, thereby helping to arrest the current unemployment rate and increase investor confidence.
South Africa’s GDP grew by only 0.6% in 2023. This was followed by 0% and 0.4% in the first and second quarters of this year.
Mthenjane noted that partnerships between business and government had thus been focused on the areas of energy, logistics, as well as crime and corruption. He explained that the mining sector had been active in developing and driving the structural reforms in each of these areas.
He pointed out the mining sector was among the largest investors in renewable energy in South Africa, with the sector accounting for about 75% of the 22 GW of renewable-energy capacity having been installed in the country in recent years. Investment in renewables has helped to ease the pressure on Eskom, which has been able to suspend loadshedding.
Mthenjane also noted that the mining sector had contributed to key water infrastructure investment in prospective mining destinations, such as the Northern Cape and Limpopo.
Comments
Research Reports
Projects
Latest News
Showroom
From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...
VISIT SHOWROOM
ENVASS is a customer and solutions-driven environmental consultancy with established divisions, serviced by highly qualified and experienced...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
