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.
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