Gamsberg mine an economic milestone, says Ramaphosa

The mine will exploit one of the largest undeveloped zinc ore bodies in the world and offer an opportunity to develop the economy of the Northern Cape, Ramaphosa said.

"The Northern Cape contributes two percent of South Africa's GDP and has an expanded unemployment rate of 39%. I’m hoping with this we will see more projects opening up here to boost the economy of the Northern Cape and also increase employment levels.”

Ramaphosa admitted that a lot of work still needs to be done to transform the country’s mining industry.

“As the consultations on the newly-revised Mining Charter demonstrate, there is a sincere commitment from all stakeholders to the growth of this industry through renewed exploration and greater investment, and, simultaneously, to its fundamental transformation.

“The Mining Charter provides a credible roadmap to a developing, thriving and transforming industry.”

The president described the new mine as an important step in the revival of the sector.

“It confirms our view that with an effective regulatory framework, improved collaboration between all stakeholders and sustained investment, mining has the potential to be a sunrise industry.

“South Africa has vast undeveloped mineral deposits that we have the opportunity to exploit for the benefit of all the people of this country.”