AEMFC-News

Address by Minister of Mineral Resources

"One of the critical instruments of the democratic developmental state is greater participation by the State in the mainstream economy. The establishment of the state mining company represents a positive step in the right direction."

"In this respect, the African Exploration, Mining and Financing Corporation (AEMFC) was resuscitated as the nucleus for the establishment of the state owned mining company (SOMC0), currently a wholly-owned subsidiary of the Central Energy Fund.

The company has already exceeded production volumes at its pioneering mine at Vlakfontein in Mpumalanga, and two further coal mines are expected to be in production by 2017. This year, we will submit the SOMCO Bill to Parliament for processing, with the aim of establishing the entity as stand-alone company."
 - Ngoako Ramatlhodi

Date Published

21/07/2014

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