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Govt’s minerals exploration target is a policy fever dream – Miningmx | SA News

Gwede Mantashe, mines and petroleum resources minister, South Africa

STATS SA’s first quarter 2025 GDP data quietly confirms South Africa’s ongoing collapse as a global exploration destination. Real capital formation in mineral exploration in 2024 was R779.5m – the lowest in the dataset going back to 1993, and less than half the figure when Minister Gwede Mantashe took office in 2018.

In 2018, exploration gross fixed capital formation (GFCF) was R1.6bn (in constant 2015 rands). Every year since, the number has declined – a 52% real-terms collapse under Mantashe’s tenure.

Yet, every year since 2019, the same claim has been made from the podium at Mining Indaba and other…

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