LEADERSHIP GAP
Mining sector ‘in for torrid times’
Mining Charter and resources bill, as well as several court cases, pit the Department of Mineral Resources against the industry
SA’s mining industry is entering another turbulent year, with development on the legal and regulatory fronts needing political leadership that is absent, says Paul Miller, a Nedbank Corporate and Investment Banking mining investment banker. This year’s finalisation of the third iteration of the Mining Charter and the amendments to the Mineral and Petroleum Resources Development Act as well as a number of court cases will pit the Department of Mineral Resources against the mining industry. Miller said on Monday that these developments came after 2016’s setbacks for the department in high-profile court cases against AngloGold Ashanti and Aquila Resources, in which judges pointed out shortcomings in officials’ handling of responsibilities. "I’m concerned 2017 is going to be a very, very difficult year for the industry," Miller said.
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