18 June 2012

South Africa: Govt, Industry Tackle Platinum Sector Challenges

Pretoria — Mineral Resources Minister Susan Shabangu and South African platinum producers, including leaders from the Mining Industry Growth and Development Task Team (MIGDETT), today met to thrash out the challenges facing the industry.

According to the department, the minister and industry representatives held a "frank and open" discussion on the challenges facing the platinum industry in the country.

"As a result of the meeting, all parties agreed on a process to address current challenges facing the platinum sector, with a view of putting in place a short and medium to long term plan for the sector," the department said in a statement.

The department will convene a task team that will lead the effort and its first meeting will be held shortly, with very tight time frames to report back to the broader MIGDETT principals' meeting, which will be convened by the minister soon.

Stakeholders collectively agreed to engage on ideas to enrich the work of the task team.

MIGDETT is mandated to come up with possible solutions to make the mining industry competitive and sustainable; and identify the negative perceptions investor circles worldwide have about the country's mining industry.

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