Be friendlier please, SA told
SA needs to offer a more conducive business environment to investors or they will turn to opportunities elsewhere. But mining minister Mosebenzi Zwane has made them feel particularly unwelcome
Mineral resources minister Mosebenzi Zwane earned a general thumbs down for his vague and defensive remarks at the opening of this week’s Mining Indaba in Cape Town and its subsequent interactive session. He signally avoided addressing any of the industry’s burning concerns: the failure to promulgate amendments to the Mineral & Petroleum Resources Development Act, a unilaterally drafted mining charter which will be challenged in court by the Chamber of Mines later this month, and his department’s inconsistent application of existing regulations. The annual indaba in Cape Town attracts about 6,000 delegates representing mining companies and investors from all over the world. Many more do not register for the conference itself but hold meetings on the sidelines. The Chamber of Mines, in its latest "Facts and Figures" report on the SA mining sector, released at the indaba, estimates that the industry’s contribution to SA’s GDP narrowed to 6.8% last year from 7% in 2016, though in real ...
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