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Exploration Strategy for Mining Industry Drawn Up

April 19, 2022

Department of Mineral Resources and Energy

The exploration strategy for the mining industry has been drawn up.

The mineral resources and energy department published the strategy in Government Gazette 46246.

The strategy seeks to secure a 5% share of global exploration spending and facilitate mineral exploration to increase the contribution of mining to the South African economy over the next five years.

It also aims to “attract mineral exploration investment, reignite mineral development, accelerate new mineral discoveries and encourage optimal utilisation of the South African mineral resources in line with the environmental, social, and corporate governance principles for sustainable growth and propel South Africa to a competitive position against other jurisdictions of comparable mineral endowment”.

The exploration strategy is drafted on the strength of South Africa being host to over 50 mineral commodities.

It is anchored on three critical pillars of sustainable development, namely, economic growth, social benefits and environmental care through good governance.

The strategy includes contribution of mining to the national economy; strategy focus; mining industry landscape for exploration; targeted minerals commodities; strategic initiatives and actions; critical roles of social partners and monitoring and evaluation.

In Notice 2027, the department published South Africa’s exploration implementation plan.

The plan outlines a comprehensive implementation plan to catalyse mineral exploration in South Africa, secure more than 5% share of the global exploration expenditure within 3-5 years and bolster the mining sector’s contribution to GDP in line with the Economic Reconstruction and Recovery Plan.

The plan proposes a “re-imagination of South Africa’s exploration investment landscape and introduces a necessary exploration driven paradigm-shift to revive the mining industry and the economy of the Republic of South Africa”.

It also aims to re-introduce an enabling environment to facilitate successful exploration and a junior mining industry that “unlocks future wealth, economic development, job creation and transformation”.

Meanwhile, in Gazette 46242, the department called for nominations of suitable candidates to be considered for appointment to the Board of the National Nuclear Regulator.

Applications are invited until 6 May 2022.