Minister Mantashe: Gas and Oil Exploration Crucial for SA's Economic Future

Mantashe stressed the necessity of involving black South Africans in economic activities as a crucial intervention for addressing unemployment and promoting economic growth.

Minister of Minerals and Petroleum, Gwede Mantashe, emphasized the importance of gas and oil exploration for South Africa's economic future during a debate on the Opening of Parliament Address in Cape Town.

“Our country is endowed with petroleum deposits that are not yet exploited. We appeal to South Africans to appreciate that our quest for exploration of oil and gas deposits is not a nice to have. It is important to turnaround the composition of our economy and therefore, that will translate into growth of the economy,” Mantashe said.

He criticized foreign-funded NGOs that obstruct gas and oil exploration, stating that such actions hinder economic development. “That is blocking economic development and we must confront it and deal with it. That doesn’t mean we are not serious about responsible mining and exploration. We must accept, unreservedly, the need for mining and exploration that is conscious in preserving the environment while accelerating development,” Mantashe added.

Mantashe stressed the necessity of involving black South Africans in economic activities as a crucial intervention for addressing unemployment and promoting economic growth. “As we address the question of unemployment and develop a framework for economic growth, we should bear in mind that involving black South Africans in economic activity is not a favour. It is a necessary intervention because for many years…they were not active in economic activity so therefore the question of black economic empowerment and affirmative action is a necessary intervention in the economy,” he concluded.