25 October 2017

South Africa: SA, Russia Seek Sustainable Growth for Platinum Sector

Photo: Greg Nicolson/iMaverick
(file photo).

Mineral Resources Minister Mosebenzi Zwane has called on South Africa and Russia to work together to look at ways of ensuring demand sustainability in the platinum group metals industry in the face of falling commodity prices.

"Being the two largest producers of these metals, in particular platinum and palladium, it is important that we ensure demand sustainability and seek ways to leverage benefit from these metals," Minister Zwane said.

He was speaking in Moscow, Russia, on Tuesday where he is currently attending the 2nd Conference on Platinum Group Metals.

Minister Zwane stressed the importance of collaboration in areas where the two countries share strength, especially as far as the platinum group metals are concerned.

The conference is based on the memorandum of understanding (MoU) between the two countries signed on the margins of the BRICS conference held in Durban in 2013.

The MoU also details areas of cooperation between the two countries in areas of skills development, research and development as well as investment opportunities between the two countries, especially in the platinum sector.

Minister Zwane's delegation includes senior leaders from Mintek, Mine Health and Safety Council, Council for Geoscience and representatives of Junior Miners.

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