Ramaphosa addresses Mining Indaba Conference in Capetown

South Africa President Cyril Ramaphosa says the mining sector has showed the biggest growth across all sectors in the year 2021.

Ramaphosa was addressing the Mining Indaba currently underway at the Cape Town International Convention Centre.

Ramaphosa lamented how the mining industry is facing significant challenges despite  the great prospects.

“It is a matter of grave concern that South Africa has fallen into the bottom 10 of the Fraser Institute’s Investment Attractiveness Index rankings. We are currently standing at 75th of 84, which is our worst-ever ranking”

He said mining is a significant contributor to export earnings adding that, “it is an important source of foreign direct investment, and directly employs nearly half a million people.”

Ramaphosa said that the future of mining on the African continent holds great promise for investment, industrial development and for growth.