Persistent policy uncertainty may cause SA’s mining industry to be left behind. Even as the global mining industry, including that of SA, has risen with a turning tide in commodity prices, decreasing exploration spend locally indicates investor confidence is declining. While SA still compares favourably with other markets, investor-friendly African countries are increasingly drawing this spend away. With a new Mining Charter still needing to be signed off, and the country facing the spectre of land expropriation, the mining sector’s appeal is waning.

According to a PwC report, the ninth edition of "SA Mine", recovering commodity prices in 2017 caused SA industry to return to profitability. Revenues were up 13% compared with 2016, and the mining sector swung back into the black, recording net profits of R17bn from losses totalling R46bn the year before. Another PwC global mining report, "Mine 2018", showed the global industry revenues had grown 23% in 2017 and net profits had r...

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