Sibanye says investment picture not quite so rosy
Sibanye-Stillwater injects a sobering dose of reality into the investment-friendly tone set by the government at the Mining Indaba
Heavily indebted Sibanye-Stillwater will hold back expansion capital in SA until three major concerns are addressed, CEO Neal Froneman has said. In comments that put into context the investor-friendly remarks from President Cyril Ramaphosa in his inaugural address to delegates at the Investing in Africa Mining Indaba, as well as by mineral resources minister Gwede Mantashe, Froneman pointed out the picture they paint isn’t as rosy. Ramaphosa and Mantashe stressed regulatory certainty had been resolved with the gazetting of the third-iteration of the Mining Charter after nearly a year of intensive consultation with industry, labour and communities, and the withdrawal of amendments to the Minerals and Petroleum Resources Development Act (MPRDA) that had been in the works since 2012. While the comments on the regulatory environment, security of tenure, combating and eradicating corruption, and rolling out the welcome mat for investments in exploration and mining projects are widely wel...
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