A ground breaking ceremony for the construction of a Mineral facility in South Africa was recently held within the OR Tambo International Airport-industrial development zone (ORTIA IDZ). The mineral plant will boost mineral beneficiation, diamond cutting, polishing and trading, manufacturing of jewellery and other products.
The new mineral facility in South Africa which would take up to 18 months construction period at a cost of US $19.67m is expected to attract investors through offering incentives such as customs support services, duty free importation on raw materials and in puts, tax reduction and exemption for certain beneficiation activities.
In order for one to be exempted from import duty and value added tax, their raw materials ought to have been imported for input in the manufacturing process for product exports from IDZ to other countries.
The location of the manufacturing facility in advantageous in the sense that investors would have access to clustered, purpose built infrastructure close to OR Tambo International Airport making it easy for exports.
According to the Gauteng MEC for Economic Development, Environment, Agriculture and Rural Development, Lebogang Maile, the development should be part of Gauteng’s industrialization plans which will improve its economy through the support of value-adding, labor intensive and innovative industries.
Maile also noted that the focus on the designing and planning for development of the region would be on a globally competitive facility that would improve South Africa’s ability to manufacture jewellery while at the same time cutting and polishing other precious metals both for local and international use.
According to the Deputy Minister for Trade and Industry, Mzwandile Masina, the manufacturing plant would be a great move on the country’s development goals which will help solve poverty issues, unemployment and the equal distribution of wealth.
