Mining in South Africa has recorded the highest growth rate in Quarter 1 of 2021. According to a report on the same, mining recorded 18.1% growth, contributing 1.2% to the overall 4.6% seasonally adjusted and annualized GDP. This was due to increased production in the Platinum Group Metals (PGMs), iron ore and gold.
The Minister of Mineral Resources and Energy, Mr Gwede Mantashe, has welcomed the contribution of the mining sector to Gross Domestic Product (GDP). The Minister has attributed the growth of Mining in South Africa to the working relationship among all stakeholders in the mining industry, and in particular, the interventions outlined by the sector to save lives whilst protecting livelihoods as the country went into the nationwide lockdown in 2020. “We welcome the mining contribution to the GDP. Working together, we can do much better going forward” said Minister Mantashe.
Read: How to Get South Africa’s Foreign Direct Investment in Mining Right
Working towards uninterrupted electricity
The Minister further noted with great concern the negative 0.1% contribution of the electricity, gas and water to the GDP. “We need to put shoulders on the wheel and ensure that we can distribute uninterrupted electricity to the people of South Africa. The Department of Mineral Resources and Energy is working in earnest to ensure that we drive a robust energy security programme as outlined in our Budget Vote for the year 2021,” he concluded.
