JOHANNESBURG - South Africa and Russia on Tuesday recommitted themselves to the continued implementation of the Memorandum of Understanding (MoU) on platinum group metals (PGMs) signed in 2013 and which resulted the creation of a joint working group between the two countries.
The third annual PGMs conference in Johannesburg, which takes place in the lead-up to South Africa hosting the 10th annual BRICS Summit, agreed on the need to increase the demand for PGMs and develop alternative uses of PGMs.
This includes in fuel cell technology, jewellery fabrication, as well as investment applications. The two countries also shared innovations in mineral processing, including South African technology in water and energy efficient technologies being developed at Mintek. South Africa accounts for almost 90 percent of global platinum reserves.
"In order to further sustain our mining we must strengthen collaboration in the exploration and geological spheres. In this regard we intend to partner with Russia in the area of airborne geophysics," South African mines minister, Gwede Mantashe said.
"In order to make a sustainable difference, we must make our MoU implementable, and continuously work to strengthen our partnership, including the exchange of knowledge and skills transfer."
Mantashe met with his Russian counterpart Dmitry Kobylkin, minister of natural resources and environment, as part of the third South Africa-Russia Conference to be held at Mintek, Johannesburg.
The two countries further engaged on risks to the growth and sustainable development of the sector, including the illicit trafficking of raw PGMs.
- African News Agency (ANA)