South Africa needs to Invest in Research and Development
Miningweekly.com reports that South Africa's Science and Technology Minister, Derek Hanekom, said that the country must invest in research and development (R&D) in the mining and minerals sector. The R&D investment of the last years was below 1 percent of the gross domestic product (GDP).
KPMG partner for the tax division and head of tax services Mohammed Jada added that the mining sector, which was not “in the best health” held many challenges that could be solved or managed through innovation.
He said innovative developments, such as new detection methods, automation, advanced exploration techniques and new leaching technologies, besides others, would mitigate many of the challenges faced by the mining sector, including deepening underground mining operations, lower grades, higher labour costs, fewer mature orebodies and increasing environmental impacts.