All data is delayed
Loading...
See More

Shabangu: Mining needs research

Nov 08 2012 16:08
Sapa
Johannesburg - The future of the mining industry depends on more and steady investment in research and technology, Mineral Resources Minister Susan Shabangu said on Thursday.

"Mining innovation straddles research and development, cost efficiency, productivity and management, all of which impact on sustainable growth of the industry," Shabangu said in a speech prepared for delivery at the Council for Geoscience's (CGS) centennial commemoration in Johannesburg.

However, mining research and technology development was fragmented and at its lowest point. This was stifling the country's potential to be at the cutting edge of future mining development.

Shabangu said a mining research institute, opened by the University of the Witwatersrand, gave the CGS an opportunity to partner with academic institutions and move research and development to a higher level.

South Africa needed to increase its share of the global exploration budget.

"This will not happen without sufficient investment in geological research and associated technologies," she said.

"The potential for discovery of world class mineral deposits with the use of advanced exploration/prospecting technology remains very high in South Africa, with a healthy mineral 'real estate'."

Acquisition of new high-quality geological information and new knowledge of mineral deposits in various areas would turn investment around for the country's mining and mineral exploration sector.

The government had granted R200m over three years for the re-investigation of selected potential mineral belts and districts. The CGS would use the money to update geological data available to South Africans.

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
5 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Myths that funding and red tape are the two biggest challenges faced by emerging companies and entrepreneurs, have been debunked by a report.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Sarb’s possible intervention in the markets to stem the rand’s fall is:

Previous results · Suggest a vote

Loading...