At the Investing in Africa Mining Indaba held in Cape Town, Deputy Minister of Mineral and Petroleum Resources Phumzile Mgcina emphasized the South African government's optimism regarding the mining sector's growth. She stated that the country's mining industry is evolving, with significant untapped mineral potential identified by the Council for Geoscience. This potential underscores the narrative that South Africa's mining market is experiencing a renaissance, often referred to as a 'sunrise industry'.

Mgcina highlighted the crucial role of the Council for Geoscience (CGS), which is responsible for assessing and quantifying the value of South Africa's mineral resources across various strategic commodities. According to her, the ongoing efforts in this area have already begun to yield positive results, illustrating the country's mineral wealth's significant potential. She pointed out that the successful initiatives under the Junior Mining Exploration Fund (JMEF) are tangible evidence of this growth, indicating that government support is effectively facilitating the development of the industry.

The Deputy Minister's remarks reflect an optimistic outlook on mineral exploration and mining opportunities in South Africa. The initiatives taken by the government, particularly through the JMEF, aim to attract investment in the sector and promote the exploration of untapped minerals. As such, this message could not only enhance investor confidence but could also stimulate economic growth and job creation within the mining sector, which is vital for the country’s economic landscape.