South Africa should develop a state mining company and enhance platinum exports in order to create jobs and further boost the sector, it has been suggested.

The New Growth Path document, which was released by the government yesterday (23rd November), details plans to add 140,000 direct mining jobs in the country by 2020.

In addition, it raised the possibility of a sovereign wealth fund to provide support for the potential state-owned firm, which will work alongside "a strong private mining sector".

According to the document, job creation will also be aided by accelerating the exploitation of South Africa's metal reserves through measures to encourage beneficiation.

The strategy would see the focus placed on fabrication, or 'stage-four beneficiation', with metals used for making final goods rather than being placed through smelting and refining.

A ten-year infrastructure plan involving improvements in electricity, logistics and mining skills would also form a major component of the stage-four beneficiation.

Furthermore, the Economic Development Department recommended that the review of the country's mineral rights regime should be comprehensive enough to boost private mining investment.

"The economy has not created sufficient employment opportunities for many of our people over the past three decades," read one section of the document.

"Creating more and better jobs must lie at the heart of any strategy to fight poverty, reduce inequalities and address rural underdevelopment."

South Africa currently provides more than three-quarters of the world's platinum supplies.

Sources:



New Growth Path wants 140 000 extra mining jobs, moots sovereign wealth fund/Improved infrastructure needed to create jobs in mining - Patel (23/11/10)



Improved infrastructure needed to create jobs in mining - Patel (23/11/10) 

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