MINING REGULATIONS DRAFT
AngloGold: charter could crush us
CEO Srinivasan Venkatakrishnan warns SA could miss a second commodities boom if reason does not prevail in drafting mining laws
AngloGold Ashanti has warned there could be negative consequences for its South African mines if the third iteration of the Mining Charter is gazetted largely unchanged, with particular concerns regarding the ownership element. Speaking on the sidelines of the Mining Indaba, CEO Srinivasan Venkatakrishnan cautiously waded into the debate about the regulatory uncertainty constraining the South African mining industry, warning it could miss a second commodities boom if reason didn’t prevail in the formulation of laws pertaining to the industry. "The operating environment is not challenge-free. There is the opportunity to make mining’s potential much bigger than what it is at the moment," he said. "It’s coming to a critical phase right now where the industry, regulator and stakeholders have to find themselves in some sort of consensus position if we are going to benefit from any commodities boom coming down the line. "At the moment we are in a prime position to miss out and we can’t af...
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