More pledges for the Mining and Energy Sectors
With energy being at the forefront of conversations around the country and its negative impact to the country’s economy and daily routines of households due to rolling power cuts implemented by Eskom which has worsen over the last few months.
The Limpopo provincial government hosted its second Mining, Energy, Industrialisation and Investment two-day conference in Polokwane to attract investors to invest in renewable energy and hydrogen. This is at the backdrop of economic recovery of server impact caused by Covid 19 Pandemic.
The conference aimed at giving update with achievements made in 2021 during its first ever conference. To get more commitment from captains of the industries to reviver and to continue with economic activities in local areas.
With mining being the biggest contributor to the Limpopo economy with about 25% to Gross Domestic Product (GDP) and 24% to national mining output of the country.
Initially the province had about 141 operational mines and as the conference was underway, only 50 are operational with the rest being under care and maintenance which led to more than eleven thousand job losses.
However the conference is therefore expected to envisage ways to unlock economic growth and development, and employment opportunities that are presented by investors.
Anglo mine has between 2018 and 2021 invested R27 billion for provincial operations and on track to invest a further R11.7 billion in 2022 to sustain mining processing and an additional R800 million for social and labour plan projects.
During his address, Minister for Mineral Resources and Energy Gwede Mantashe, touched on developing mining belt for future benefit of local residents, to change the landscape of Limpopo and other provinces by formalizing small scale mining and attach them to bigger miners to curb the high carbon dioxide emissions and ensuring that
local communities benefit from mining activities.
An estimate of R280 billion was pledged in the 2021 conference and it is expected that more will be pledged before the end of 2022. MEC for Economic Development Thabo Mokone said R600 million have already being invested to the Musina Makhado Special Economic Zone (MMSEZ) and a further R50 million for the Fetakgomo Tuebatse SEZ to create industrial smart cities that will attract more investors in the province, eradicate unemployment for mostly the local residents and transferring skills to those that have completed their relevant training at TVET colleges.
By: Emmaculate Cindi