LETTER: Don’t blame Amplats
It is not the miner’s responsibility to save the country from consequences of reckless policies
Tiisetso Motsoeneng’s most recent column refers, specifically where he writes that “Amplats should have used its cash to invest in new technologies, diversify its product portfolio or support its workers and communities. By choosing to pay a dividend, it has shown that it is out of touch with the realities of its industry and its country.” (“Amplats dividend is a kick in the teeth for workers”, February 27).
It is not Amplats’ responsibility to invest in negative net present value (NPV) projects, nor to save the country from the consequences of reckless anti-investment government policies. I’m afraid the writer is shooting at messengers. If Amplats had positive NPV projects available, it would happily invest instead of returning cash to shareholders.
David Holland
Via BusinessLIVE
JOIN THE DISCUSSION: Send us an email with your comments to letters@businesslive.co.za. Letters of more than 300 words will be edited for length. Anonymous correspondence will not be published. Writers should include a daytime telephone number.