PwC suggests mining sector is essential in reviving local economy

PwC South Africa published a report, following the release of the mining production and sales statistics by Stats SA, suggesting that the sector will be integral in reviving the economy.

PwC South Africa took to Twitter on Tuesday, 13 October 2020, to announce the availability of its report on the future of the mining sector and its role in reviving the local economy. The report follows the release of Statistics South Africa’s (Stats SA) report on the performance of the sector for August 2020.

Stats SA reported that despite there being a year-on-year decline, in comparison to August 2019, August 2020 marked a 3.3 percent increase from July 2020. The PwC report appears to be quite optimistic about the sector, as it suggests that the sector will be integral in reviving the country’s ailing economy.

The suggestion is expanded on by the report stating, “Enabling infrastructure, supporting supply chain and mine-to-market logistics would provide immediate recovery benefits and enhance long-term sustainability. Investment can only be attracted to South Africa if the mining industry can be cost competitive with its global peers.”

See the post below.

The COVID-19 pandemic has called renewed attention to the vulnerabilities in South Africa’s social and economic fabric, the need to consider ESG as a whole and mining companies’ ability to support local communities. Read more: https://t.co/0fYIqF5RWl #SAmine pic.twitter.com/gIbcwqsgcF

— PwC South Africa (@pwc_za) October 13, 2020

Sabelo Makhubo
[email protected]