Suggestions for fostering growth Focus points to accelerate growth
Attract talent
Build trust
Place more focus on promoting the mining industry as a career opportunity for younger people. Talent must also be retained, as many skilled South African workers are attracted to other jurisdictions, including Australia, Canada and Indonesia. The mining industry’s motivation has evolved from being focused purely on profit to managing the impact of mining on the broader society. Some in government seem to still have a negative perception about the industry. To build more trust, a broader range of stakeholders, including civil society, must be engaged. Civil society could help to bridge the gap between government, mining companies and labour. Mining houses must be clearer about what they can do and what technical capabilities they can offer government. A better social compact will also bode well from an international perspective, as well as the elevation of environmental, social and governance issues.
Capitalise on hydrogen economy
Conducive regulatory environment
Interest in the global hydrogen economy is growing rapidly and South Africa must ensure that it remains at the forefront of developments. As a major PGMs producer, South Africa has an unprecedented opportunity to capitalise on hydrogen developments, ensuring a long-term future for its mining industry.
Regulatory uncertainty is a disincentive for investors and South Africa must provide more certainty or it risks remaining at the wrong end of the investment scale. Government must also take decisive action to implement its ideas and plans. Vague intentions will not attract the capital that is needed to grow the South African economy.
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