The Minerals Council has hit out at the government’s threat to effect the "use it or lose it" provision in mining legislation, claiming that insufficient exploration was a far bigger concern. Mineral Resources Minister Gwede Mantashe is on a collision course with the mining sector over disused shafts. Mantashe says companies sitting on such shafts are dragging down economic growth. His criticism of shafts being put into care and maintenance — a mining industry term for production being halted but shafts being maintained and managed — has become a familiar refrain of his. "There is a fight I’m taking up with the [Minerals] council. When a company puts a mine in care maintenance, there is a deposit there — they are sterilising that deposit and contributing negatively to the industry," Mantashe said in July at the opening of Sasol’s Shondoni Colliery in Mpumalanga. Mantashe said large companies that were not mining shafts because it did not fit into their strategic framework had to "pu...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.