Officials from the South African Department of Trade and Industry (the dti) and representatives of Coal of India have agreed to explore mutual prospects in the coal sector in order to increase trade relations between the two countries, and explore opportunities on display in the South African mining industry value chain. The agreement emanated from a meeting held on the side lines of the Africa Mining Indaba in Cape Town.
Coal of India is in the business of mining and exporting low grade thermal coal and has been mapping the South African coal mining industry, with the interest of acquiring mining concessions and information on how best to exploit coal deposits in a way that serves the best interest of all stakeholders.
The discussion also elaborated on the cost involved in the mining business and the industry’s policy, government priority in terms of mining and regulatory framework in the effort to clarify and provide predictable solutions.
“These discussions with different stakeholders are a breakthrough on how South Africa could engage more productively with investors in the mining sector,” said Mr Yunus Hoosen from the dti.
Hoosen said the talks were also a platform to encourage big mining role players to develop smaller mining companies in the coal sector to be sustainable, and also zoom in on the beneficiation opportunities and localisation within the industry.