The president announced the new cabinet Wednesday night, reducing the number of ministers from 36 to 28 and combining the mineral resources and energy portfolios under one minister.
Bavelile Hlongwa was chosen as Mantashe's deputy.
The Minerals Council South Africa welcomed the "leaner, more focussed" cabinet and was especially pleased about the re-appointment of Mantashe.
CEO Roger Baxter said the mining industry appreciated the appointment of a "well-balanced cabinet, reduced in size but with greater focus".
"The retention of core ministers in key economic functions is a positive signal to the country, and to investors - both at home and abroad.
"The appointment of minister Mantashe to an enhanced portfolio of minerals and energy is a key signal of the seriousness with which the president is taking the restoration of investor and business confidence in mining and energy," he said.
