R363 billion boost for Ramaphosa

This year’s investment conference pledges – largely driven by the private sector – tallied up to R363 billion. Approximately R300 billion pledged at the inaugural conference held last year in October. This figure could rise significantly as some companies had yet to seek regulatory and, in some cases, board approval, before announcing their commitments.

Ramaphosa drew delegates’ attention, telling them the government was undertaking far-reaching reforms to make the country a preferred choice for investment. He also said: “We have initiated the release of the high-demand broadband spectrum, which will bring down data costs and encourage investment.” The investment will ensure the life extension of the mine to 2046 and it is expected that 94 million carats will be mined through the extension. The mine employs 4 365 people.

Belfast will produce 2.7 million tons a year of high-grade thermal coal for the export market. The life of the mine for the first phase is 17 years and the potential for a second phase is there, which could take the life of the mine to 30 years, says Lazarus Ramashilabele, business unit manager. “I have a dream that all South Africans will use proudly South African phones,” said Thakkar. The phones are now available through Mara’s own website, but plans are afoot to roll out a chain of stores in the next two years.

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