However, it is no secret that government has been putting less and less money aside for R&D in recent years. In fact, Cadiz mining analyst Peter Major said the country's geosciences council went from "mission control" in the 1980s, to a now almost deserted operation with "flapping doors and windows".
Major said that the council had lost about 60 researchers, scientists and geologists over the past two years.
"Of government's entire budget, the geosciences council probably receives about R100-million a year. If they want to up their game, government needs to put their money where their mouth is."
Manuel admitted that state investment in R&D had fallen in recent years. However, he emphasised that R&D was crucial to increase South Africa's mining output, while also ensuring that the sector was able to reduce its carbon emissions. He added that R&D would also enable South Africa to gain a competitive advantage by adding value to its minerals.
However, he would not comment on whether or not the budget for mining R&D would be increased.
DuPont spokesperson Davide Vassallo agreed that the real growth potential of South Africa's mining sector would only be unlocked through adequate investment in R&D from government and the private sector.
"South Africa has the potential to be a leader in clean mining and energy technologies both in Africa and the rest of the world. Green mining and skills development will be crucial to unlock the value of the country's mineral wealth and growing its mining industry," said DuPont senior consultant Wian Strydom.
Important areas of development that were flagged by Mineral Resources Minister Susan Shabangu were cleaner coal technologies and research into fuel cells, which are made from platinum, a mineral that South Africa holds more than 80% of world reserves of.
Shabangu said it was very much in South Africa's interest to contribute to a vision for mining and development in Africa that included the creation of a knowledge-driven African mining sector and diversifying the industry through beneficiation to address socio-economic needs on the continent.
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HackerInvestor44 Feb 13, 2012
1. ANC dicussing lunatic fringe economic policies like Nationalisation.2. Bad education system, resulting in lack of qualified people.
3. Lack of Law and Order resulting in limited feeling of safety and security.
4. ANC general love-hate relationship with investors, which is discouraging investment required to create growth and jobs.
5. Lack of infrastructure - No new infrastructure is built, no public transport systems, and existing systems are crumbling due to lack of maintenance investment and proper planning.
6. No long term policy certainty for investors.
7. ANC failure to realise that there are 150 other emerging market countries out there competing against SA, there SA has to be more competitive and investor-friendly