Mantashe urged investors to prioritise mining exploration

JOHANNESBURG - Mineral and Petroleum Resources Minister Gwede Mantashe has called on investors to prioritise mining exploration, as the African continent doubles down on value creation.

Mantashe visited the Finestar jewellery and diamond factory at the OR Tambo special economic zone in Kempton Park on Friday.

He said the opening of the factory was a good sign for the country’s manufacturing capacity, especially in the diamond sector, as well as a boost for productivity and economic diversification.

"We are in a continent called Africa. It’s a rich poor continent because we are always mine and export raw commodities. Now, value addition is an issue we are emphasising because if we add value close to the point of production, we are retaining jobs and increasing profits. If we are exporting raw commodities, we are exporting jobs and profits," said Mantashe.

Mantashe added that regional collaboration would help take mining over the line, including talks with Botswana, where diamonds are central to the economy.

"It all starts with exploration; you must discover those diamonds. If we do not discover them, we will have nothing to cut and polish. Our commitment is ensuring exploration is supported by sound policies," said Mantashe.