Lack of coordination seen hampering SA economy

Department of Trade and Industry

Department of Trade and Industry

PRETORIA, (CAJ News) – INTER and intra-governmental coordination is woefully lacking and that if it is not urgently addressed, South Africa will never achieve its mineral beneficiation objectives.

This is according to former Member of Parliament and Director of the Institute for African Alternatives (IFAA), Professor Ben Turok.

He was speaking at an Economic Policy Dialogue on Mineral Beneficiation in South Africa hosted by the Department of Trade and Industry in Pretoria.

“The key point is that South Africa plays host to a mixed economy and if we can fix the intra and inter-departmental coordination plus the mineral value chain, we would then go a long way in achieving beneficiation,” said Turok.

He added that another factor that hampers mineral beneficiation is that the private sector puts up short term plans instead of long term ones.

“Where are the fifty-year long term plans?” asked Turok.

“Both the private and the public sectors exist in a mutually-dependent relationship and a time has come for the two to find one another.

“Our economic growth rate is at 0%, and if we do not repair the system of our economy, then we are in trouble,” he stressed.

Meanwhile, Chamber of Mines’ President, Mike Teke, said that the group supported mineral beneficiation in South Africa.

“We are excited at government Mining Phakisa and are looking at collaborating.

“We do take transformation seriously and believe that sitting and collaborating with government will help develop South African mining into a global competitive force,” said Teke.

– CAJ News




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Posted by on Jun 30 2015. Filed under Engineering, Finance, Finance & Banking, Investing, Mining & Engineering. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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