enablers thereto particularly legislative and institutional arrangements are in

Enablers thereto particularly legislative and

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enablers thereto, particularly legislative and institutional arrangements, are in place. The mining and energy sectors present a huge potential for exploration, production and beneficiation. For this reason, the
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UNREVISED HANSARD JOINT SITTING TUESDAY, 25 JUNE 2019 Page: 351 restoration of a stable and predictable policy and regulatory environment is a priority. Uncertainty that delayed the development of the mining industry was removed with the finalisation of the Mining Charter. And the separation of petroleum from the regulatory framework governing traditional minerals, that legislation will come before Parliament early this year. The process of developing a Petroleum Resources Development Bill, which will in due course be subjected to public participation, Cabinet and parliamentary processes, is underway. The Bill will further provide regulatory certainty to the upstream petroleum industry and stimulate growth and development in this sector. We are convinced that if we develop petroleum into a fully fledged sector will add impetus to the growth of the economy. We are convinced about that. All we should make sure of is to do what is in the best interest of the country. Mineral beneficiation is critical to industrialisation. We must address, amongst others, the matter of high administered prices to trigger growth and development of the economy. Administered
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UNREVISED HANSARD JOINT SITTING TUESDAY, 25 JUNE 2019 Page: 352 prices are prices that are within the control of the state. Be it electricity, be it rail and port. It is incumbent up on us as the government to use administered prices to trigger growth and development in the economy. We have control over that. This is with the intention to reverse the current situation, where the bulk of our chrome and manganese resources are beneficiated in Asia. Despite the increase on the tariffs, bulk of our chrome and our manganese is beneficiated in Malaysia in particular and Asia in general because of the price of electricity. Therefore, we have a duty to intervene with administered prices. Honourable members, post our national general elections, journalist Palesa Morudu wrote in the Business Day 17 May 2019 : “Last week’s 57% win by the governing party was met with a grudging sigh of relief from the gatvol nation–relief that the polls were over, that it could have been worse. South Africans, once again, held it together and broke with the global trend that is embracing greater extremes. So, here
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UNREVISED HANSARD JOINT SITTING TUESDAY, 25 JUNE 2019 Page: 353 we are again. The voters have provided a corrective to some of the South African’s worst excesses. But time is running out. The possibility of building a nonracial, democratic and prosperous South Africa based on equality for all and the rule of law has not been extinguished.
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  • Fall '08
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