Latest news with #MineralandPetroleumResources
Eyewitness News
a day ago
- Business
- Eyewitness News
Mantashe punts critical minerals as a key driver for SA's economic development, job creation
JOHANNESBURG - Mineral and Petroleum Resources Minister Gwede Mantashe has again punted critical minerals as a key driver to South Africa's economic development and for job creation. Mantashe was speaking at an engagement on the G20 critical minerals framework in Sandton on Tuesday. Although voluntary, the framework is tipped to be a blueprint for harnessing critical mineral resources to drive development. Mantashe said he hoped it would promote secure, transparent and sustainable value chains. "The most important thing for us, as developing economies, is that we should not be bullied for what we own. We must have a view and our view must be respected, that we mine those critical minerals and people need them, they must talk to us. We must not give them critical minerals on their own terms and our views are ignored." With looming tariffs from the US on imports into that country, Mantashe said South Africa shouldn't be backed into a corner. "You get 30% tariffs imposed on you? Send those tariffs elsewhere where there are no tariffs, where you get optimal value."
Eyewitness News
a day ago
- Business
- Eyewitness News
Mantashe takes swipe at countries threatening to impose higher import tariffs on trade partners
JOHANNESBURG - Mineral and Petroleum Resources Minister Gwede Mantashe has taken a thinly veiled swipe at countries threatening to impose higher import tariffs on trade partners, labelling the threats as bullying. Mantashe's concerns about the impact of higher tariffs on miners come ahead of an expected 30% duty on South African products shipped to the US set to take effect at the end of the week. READ: Mantashe punts critical minerals as a key driver for SA's economic development, job creation Speaking at an engagement on the G20 critical minerals framework in Sandton on Tuesday, he called on captains of industry to find alternative markets for the country's critical minerals. The US relies on South African metals and minerals that are essential for its economy and national security, making them the biggest South African exports to the US. But for US President Donald Trump, doing business with the superpower means taking a hard stance - you're either with the US or you're against it. During this year's instalment of the BRICS meeting in Brazil in June, Trump threatened BRICS allies with higher tariffs on goods into the US, above the universal baseline on all trading partners. Mantashe said: "We must not be apologetic for initiatives that take us forward, we must never. If being a member of BRICS attracts tariffs from the US, it tells us that we must diversify our markets more and more aggressively and not focus on where tariffs are imposed on us." Platinum group metals and chrome were on a list of exemptions before the US paused its previous tariff threats, but a levy on diamonds and other minerals raised concerns about lower export earnings for South Africa. It's unclear at this stage what parameters will apply to the 1 August tariffs.
IOL News
17-07-2025
- Politics
- IOL News
BREAKING: Joburg High Court rules Zakhele Zuma's R40 million allegations against Gwede Mantashe are defamatory
Mineral and Petroleum Resources Minister Gwede Mantashe. The High Court ruled in his favor in a defamation case involving social media allegations. The Johannesburg High Court has ruled that allegations made by Zakhele Zuma against Minister of Mineral and Petroleum Resources Gwede Mantashe, claiming he received R40 million from East Rand Proprietary Mines (ERPM) intended for miners, are false and defamatory. The court found that Zuma's claims, which were posted on TikTok and other social media platforms, were without merit. The ruling followed an urgent application filed by Mantashe in June, seeking to interdict Zuma from making the allegations. Mantashe previously filed a crimen injuria case at the Brooklyn Police Station in Pretoria in June after Zuma publicly accused him of failing to pay out R40 million in settlement funds. According to reports, when ERPM was liquidated in 1999, approximately 4,000 workers were affected. Many of them had worked under dangerous conditions, and there were claims that the National Union of Mineworkers (NUM), then under the leadership of Mantashe - received the settlement packages on the workers' behalf and promised to invest the money for them. Mantashe has repeatedly denied these claims. In court papers, Mantashe argued that Zuma continues to publish false and defamatory statements and has failed to provide evidence or lay criminal charges. Mantashe contended that the allegations have harmed his constitutional right to dignity and the integrity of the office he holds. 'These are serious allegations which impugn his constitutional right to dignity and the reputation of the office that he holds,' the court papers stated. Mantashe also alleged that Zuma's statements incited hostility and endangered his safety, as former ERPM workers were led to believe he had retained the funds meant for them. He further stated that Zuma's failure to offer any proof, or to offer him an opportunity to respond, made the claims even more damaging. The minister said the ongoing publication of the allegations has impacted both his public standing and professional responsibilities. Mantashe has served as Minister of Mineral Resources and Energy since 2018 and currently holds the portfolio of Mineral and Petroleum Resources. He is also the national chairperson of the African National Congress (ANC). He sought a court order declaring the statements false and defamatory, directing Zuma to issue a retraction, prohibiting Zuma from repeating the allegations, and ordering damages. Zuma opposed the application and denied the allegations of defamation. However, the court heard that he failed to address the issue of legal costs. 'I have not heard the parties on costs; I will reserve the question of costs,' Justice Janse van Nieuwenhuizen said. Van Nieuwenhuizen ruled that Zuma's statements are 'unlawful' and prohibited him from repeating the allegations or implying that Mantashe received R40 million from ERPM. 'It is declared that the respondent's publication of the statements is unlawful,' Van Nieuwenhuizen said. He said the quantification of damages and the terms of the retraction will be determined through oral evidence at a later stage. 'A retraction of the statements is referred to as oral evidence. The costs of the urgent application are reserved,' Van Nieuwenhuizen added. IOL Politics
Eyewitness News
16-07-2025
- Politics
- Eyewitness News
President Ramaphosa appoints Gwede Mantashe as Acting Police Minister
Mineral and Petroleum Resources Minister, Gwede Mantashe has been appointed Acting Police Minister after Senzo Mchunu was placed on special Cyril Ramaphosa has appointed Mantashe to act in the position with immediate was put on special leave after he was linked to alleged corruption in the police a short statement released on Tuesday night, the Presidency said Mantashe will act as Police Minister until Professor Firoz Cachalia assumes the position at the start of a late-night address on Sunday, Ramaphosa announced that Cachalia would act in the position in accordance with section 91 subsection (3)(c) of the Constitution which grants the president the authority to appoint a maximum of two ministers from outside the National appointment as Acting Police Minister is in line with section 98 of the provision prescribes that the President may assign to a cabinet member any power or function of another member who is absent from office or is unable to exercise that power or perform that function. Mantashe will, however, retain his responsibilities as Minister of Mineral and Petroleum Resources.
IOL News
03-07-2025
- Business
- IOL News
Gwede Mantashe unveils R2. 86 billion budget to revive SA's mining and petroleum sectors
Minister of Mineral and Petroleum Resources, Gwede Mantashe says the R2.86 billion budget will drive investment, transformation, and regulatory reform to ensure South Africa's mineral wealth benefits all and supports inclusive economic growth. Minister of Mineral Resources and Petroleum Gwede Mantashe says the reconfiguration of the Department of Mineral and Petroleum Resources (DMPR) has created an opportunity to streamline regulation and promote investment in South Africa's mineral and petroleum sectors. Tabling his department's budget in Parliament on Wednesday, Mantashe said the department has been allocated R2.86 billion for the 2025/26 financial year with R1.16 billion earmarked for transfers to public entities. 'Although constrained due to prevailing economic hardships, this budget is geared towards enabling the department to efficiently regulate the mining and petroleum sectors for transformation, inclusive growth, development, and ensure that all South Africans derive sustainable benefit from the country's natural wealth,' Mantashe told MPs. He noted that despite geopolitical tensions and depressed commodity prices, particularly for platinum group metals (PGMs), manganese, and chrome, South Africa's mining sector still contributed R451 billion to GDP in 2024, sustaining a 6% share. Export earnings totaled R674 billion, a slight decline from R678 billion in 2023. However, jobs in the sector fell by 0.9%, with the PGM sector hardest hit. Mantashe reported progress in regulatory reforms. 'Since our last tabling of the budget last year, the department has finalised and published for public comment the draft Mineral Resources Development Bill (MPRDB),' he said. The revised Petroleum Products Bill is also being finalised for Cabinet submission, while the Upstream Petroleum Resources Development Act (UPRDA) signed into law in October 2024 aims to attract investment in the oil and gas sector.
