X

This is not a paywall.

Register for free to continue reading.

We made a promise to you that we’ll never erect a paywall and we intend to keep that promise. We also want to continually improve your reading experience and you can help us do that by registering with us. It’s quick, easy and will cost you nothing.



Nearly there! Create a password to finish up registering with us:


Please enter your password or get a login link if you’ve forgotten


Open Sesame! Thanks for registering.

First Thing, Daily Maverick's flagship newsletter

Join the 230 000 South Africans who read First Thing newsletter.

We'd like our readers to start paying for Daily Maverick

More specifically, we'd like those who can afford to pay to start paying. What it comes down to is whether or not you value Daily Maverick. Think of us in terms of your daily cappuccino from your favourite coffee shop. It costs around R35. That’s R1,050 per month on frothy milk. Don’t get us wrong, we’re almost exclusively fuelled by coffee. BUT maybe R200 of that R1,050 could go to the journalism that’s fighting for the country?

We don’t dictate how much we’d like our readers to contribute. After all, how much you value our work is subjective (and frankly, every amount helps). At R200, you get it back in Uber Eats and ride vouchers every month, but that’s just a suggestion. A little less than a week’s worth of cappuccinos.

We can't survive on hope and our own determination. Our country is going to be considerably worse off if we don’t have a strong, sustainable news media. If you’re rejigging your budgets, and it comes to choosing between frothy milk and Daily Maverick, we hope you might reconsider that cappuccino.

We need your help. And we’re not ashamed to ask for it.

Our mission is to Defend Truth. Join Maverick Insider.

Support Daily Maverick→
Payment options

Gwede Mantashe sticks to his guns on coal

Business Maverick

OIL CONFERENCE

Gwede Mantashe sticks to his guns on coal

File Photo: Energy and Mineral Resources Minister Gwede Mantashe ,July 17, 2018. (Photo by Gallo Images / Sowetan / Antonio Muchave)

Energy is the key to South Africa’s economic growth, Energy Minister Gwede Manatashe announced at the opening of Africa Oil Week. While SA offers a myriad investment opportunities, he recognised that policy certainty was key to investment. And he stuck to his guns on coal.

It was perhaps fitting that Gwede Mantashe was decked out in a fiery red outfit as he opened the annual Africa Oil Week conference in Cape Town on Tuesday, because his remarks will make greens see red.

People want us to move at speed. They even want us to switch off all the coal-fired generators,” said the minister, adding that if that were to happen: “We’ll breathe the fresh air in darkness.” His message, delivered in his typically blunt manner, was that government would not sacrifice economic growth on the altar of environmentalism.

South Africa has 16 coal-fired power plants and vast deposits of coal. We recognise that coal must disappear, which it will over time, but it won’t be soon,” he said. “Instead, new investment will be directed at more efficient coal technology.”

Energy and Mineral Resources Minister Gwede Mantashe opens the oil conference in Cape Town, 5 November 2019. Photo: Ed Stoddard

Gas also occupied the minister’s mind and he said 2024 would be the year “to open gas projects” in South Africa.

A liquified natural gas hub will be established at Coega in the Eastern Cape. “Here is an opportunity to invest and help develop the gas industry. The invitation is thrown at you, please take it. The sooner we develop this industry, the better,” the minister told the delegates.

Renewable energy was not forgotten, with Mantashe acknowledging that this was the fastest area of development in the country.

He also promised that legislation to enable the development of the oil and gas sector will be before Cabinet soon.

Mantashe ended his address with a plea to investors in the audience to sink capital into South Africa’s energy sector, otherwise “it will just be another talk shop” – Additional Reporting by Ed Stoddard. BM

Gallery

Please peer review 3 community comments before your comment can be posted