The Minerals Council of South Africa on Friday called for the country to improve its competitiveness, address red tape in government and implement structural reforms.
The Minerals Council CEO Roger Baxter made the remarks while commenting on the opening of the economy.
President Cyril Ramaphosa has announced that the country will move to level one, opening the business and tourism.
Baxter said the government should address the energy shortage, low economic growth and low business and investor confidence.
“We must address the key issues which undermine our relative competitiveness and impede our growth potential as a country. Like the rest of the economy, the mining industry has significant potential, and if the issues holding it back were to be addressed, this potential could be unleashed, enabling the industry and the country to embark on a new path of inclusive growth and investment, and ultimately, a better future for all,” said Baxter.
The mining sector pledged to work with the government to rebuild the economy, create jobs and reduce poverty.
“If all these issues were to be addressed, we estimate that mineral sales could increase by over 3.6 billion U.S. dollars and tax revenues by over 294 million U.S. dollars; 70,000 jobs could be saved; 26,000 additional direct mining jobs and 47,000 additional indirect jobs could be created in the next four years,” he said.