Cape Town - President Jacob Zuma said on Thursday South Africa needs faster economic growth and a stable and growing mining sector is needed to accomplish this.
The government cannot deliver this on its own, he said at a media briefing at the Union Buildings in Pretoria about the economy and
developments in the mining industry.
"We need all South Africans to play their part to
promote our country to enhance economic growth in any possible way," he
Zuma said the country needs a stable and growing mining
industry, a key feature of the economy for more than 130 years.
Even though it is now smaller relative to the size of the
bigger economy, mining remains a cornerstone of economic growth, he said.
He said all parties should work together to increase economic growth
from the 0.9% GDP reported in the first quarter of 2013 to the
2.7% growth targeted by government.
He said in addition to its contribution to GDP, the mining
sector is responsible for 60% of export revenue and is a valuable contributor
to corporate taxes.
It also provides jobs for about one million South Africans
and nationals of neighbouring countries.
He urged organised labour, business and the government to
help stabilise the sector in order to reassure investors and local society.
Referring to last year's deadly labour unrest in the mining
sector, Zuma said it is against this background of economic and social
difficulties that the government has embarked on various initiatives to stabalise the mining sector and the greater economy.
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