Fin24.com | Chamber of Mines announces name change to align with future vision

The Chamber of Mines has changed its name to Minerals Council South Africa to keep up with changing times.

“This change signals our desire to move forward, building a new legacy, and creating a future of which all South Africans can be proud,” said Minerals Council president Mxolisi Mgojo on Wednesday.

The historic organisation, which was established in 1887, has undergone numerous changes in its long history, and Mgojo said the change was aligned with its current vision for the future.

“We acknowledge our past; we do not accept that we cannot make things better for the future,” he said.

The Minerals Council represents more than 70 large, medium-sized, small and emerging mining houses.

He stated the organisation is aware that it has entered a “far more positive political environment than we have experienced in recent years”.

Its members are committed to mining in an effective and responsible manner that will ensure fair returns to investors and the people of South Africa, said Mgojo, who is the council’s fourth black president.

Minerals Council members make up about 90% of South Africa’s mineral production by value.

“As the Minerals Council, we are aware that a new logo will not create a new legacy. Rather, the logo is a symbol of the organisation and industry’s efforts and aspirations,” Mgojo added.  

The name change comes as the industry is facing flak for not doing enough to embrace transformation, which critics say contributes to inequality and economic imbalances.

Mines are also under pressure from declining resources, low output and large-scale job losses in recent years.

‘Industry in crisis‘

“The reality of mining in South Africa in the past few years, and today, is that this remains an industry in crisis,” said Mgojo.

He said South Africa is ranked number 47 out of 91 mining countries in the Fraser Institute Survey for investment attractiveness.

The increasing number of deaths in mines is another challenge facing the sector, with 33 fatalities reported so far this year. Most deaths have occurred in gold mines.

* : Get Fin24‘s top morning business news and opinions in your inbox.

Related posts

Leave a Comment