The Department of Trade and Industry Minister, Rob Davies, announced on 4 August that South Africa would use Russian technology to advance mineral resource beneficiation and in so doing gain full economies of scale from the sale of finished products rather than raw materials.

Davies made this announcement during his visit to Russia, as part of a large government and business delegation, preceding President Jacob Zuma’s official visit on 5 August.

A high-profile contingent of 70 business people form part of the delegation. Futhi Mtoba, president of Business Unity SA (Busa), Standard Bank CE Jacko Maree and BHP Billiton’s Xolani Mkhwanazi, Eskom chairman Mpho Makwana and Geoffrey Qena, CE of the Industrial Development Corporation are some of the captains of industry in Russia to seek business opportunities.
 
Russia and South Africa have committed themselves to improve trade relations, particularly as both economies represent major emerging markets, with very good growth potential.

Reported by Business Day