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The Minister of Mineral Resources, Gwede Mantashe, welcomes the announcement by global mining company Rio Tinto of the US$463 million investment in the expansion of its Richards Bay Minerals operation in South Africa.
The investment is an affirmation of South Africa’s attractiveness as an investment destination. It confirms South Africa’s stable and predictable policy and regulatory environment.
The announcement follows - among others - the recent US$400 million investment by Vedanta in Gamsberg in the Northern Cape.
“As we intensify efforts to grow South Africa, we welcome investment injections such as this one, which bear testament to our efforts at turning this sector and economy around, for the benefit of our people,” Minister Mantashe said.
Issued by the Department of Mineral Resources
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