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Johannesburg - The Chamber of Mines welcomed President Jacob Zuma's announcement on Thursday of initiatives to support the mining industry.
"The future of the mining industry is in our collective hands, and by working together we can ensure its sustainability and return it to profitability for the benefit of all South Africans," said Chamber president Mark Cutifani.
At a briefing about the economy and developments in the mining sector on Thursday, Zuma told reporters South Africa needed a stable mining industry to increase economic growth.
He said the sector remained the cornerstone of the economy, "even though now smaller, relative to the size of the overall economy".
It had been affected by the depressed global economic growth, especially in Europe, and had a bad year in 2012 with the deaths of 44 people during a strike at Lonmin's platinum mine in Marikana, North West.
However, the government had acted to address labour relations in the sector.
Deputy President Kgalema Motlanthe was tasked last week with leading talks between the government, labour and mining companies, assisted by the ministers of finance, labour and mineral resource ministers.
"The fact that the president has mobilised key members of his Cabinet... to support in this process is indicative of government’s commitment," said Cutifani.
"We are confident that the intervention by these ministers, together with [Mineral Resources] Minister Susan Shabangu as regulator of the mining sector, will help to build the confidence of foreign investors in South Africa as an investment destination and guide the ongoing labour processes."
He urged business, organised labour and the government to hold constructive discussions during the wage negotiation period.
Cutifani said the Chamber agreed with Zuma that ensuring competitiveness as an enabler of growth could be used to drive greater economic inclusion and transformation.
The Chamber also supported the move to implement the revised Mining Charter, which would re-energise the sector to realise the true essence of transformation, rather than mere compliance
It acknowledged that the mining sector could do more to improve social and living standards, especially in communities around mining operations and in the areas from which labour was drawn.
At the briefing, Zuma said mining accounted for six percent of the country's gross domestic product and generated 60 percent of South Africa's export revenue.
The sector employed about a million people, including some from neighbouring countries.
