He explained that the idea is to encourage more domestic metal processing and grow industries such as platinum fuel cell production and auto manufacturing in order to create new jobs.
"Our competitive advantage is access to the raw materials. That is why we must give access to the raw materials at developmental prices," October told Reuters, adding that the proposed amendments to the Minerals Act will stipulate, "as a condition of the license, that a certain percentage of production goes to the downstream industry at a developmental price."
The government plans to submit the draft legislation to parliament next year but has not set exact percentages for the amounts to be sold locally or the market discount, Independent Online reports.
Read the full article on www.iol.co.za.
