South African president Jacob Zuma told an audience in Belgium today that South Africa offers mining investors huge growth potential and proven economic and political stability.
In Antwerp for the third annual European Union-South Africa summit, Zuma said the successful hosting of the 2010 Fifa World Cup had "demonstrated to the world that we are a country that can deliver on its undertakings."
In 2009, the mining industry contributed more than 30 percent to South Africa’s total export revenue, and employed 9 percent of the country's economically active population.
"That is currently just below half-a-million direct jobs and a further half-a-million indirect jobs," Zuma said. "As the global economy recovers, and the demand for commodities increases, real opportunities for maximum returns in the mining sector exist."
South Africa was well-placed to take full advantage of improving prospects in the sector, he said. "Our country continues to host significant known reserves of mineral commodities, with almost 60 minerals being actively mined."
South Africa's mineral assets, excluding energy commodities such as coal and uranium, are currently valued at around US$2.5-trillion, enough to last well into the next century.
