10 June 2011

The Cabinet has approved minerals beneficiation as official policy for South Africa, opening up exciting opportunities for long-term investment in the beneficiation/ manufacturing sector of the economy.

“This strategy provides a framework that seeks to translate the country’s sheer comparative advantage inherited from a significant mineral resource reservoir to a national competitive advantage,” government spokesman Jimmy Manyi told a media briefing in Pretoria on Thursday following the Cabinet’s regular Wednesday meeting.

As a vital input to the government’s industrialisation programme, the new policy presented exciting opportunities for long-term investment, for both local and foreign, into the beneficiation/manufacturing sector of the economy, he said.

“This will leverage optimal benefit from enhanced value of exports, increasing sources for consumption of local content, and contribute towards the creation of sustainable jobs.”

Cabinet also approved the design of the commemorative crown-size silver coins in celebration of the 90th Anniversary of the South African Reserve Bank.

The new coin design would be published in the Government Gazette, Manyi said.

Sapa

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