PRODUCTION INCREASE
Mines chamber upbeat despite policy uncertainty
Chief economist Henk Langenhoven says the Chamber of Mines remains positive despite the uncertainty created by the ongoing discussions on a new Mining Charter
The mining and manufacturing sectors recorded growth in the first quarter of 2017 after a disappointing run in the last months of 2016, but policy uncertainty remains a concern, especially in mining. Speaking about the latest mining production figures, Chamber of Mines chief economist Henk Langenhoven said the numbers were looking good but "we don’t know yet about policy. We’re in negotiations but there is concern." Policy certainty "would help because mining is a risky business", he said. Mining production recorded a 1.3% year-on-year increase in January. Seasonally adjusted production rose 1.7% month on month compared with December’s 0.3% contraction. Langenhoven said the Chamber of Mines remained positive despite the uncertainty created by the ongoing discussions on a new Mining Charter. "World economic growth is looking better, commodity prices have improved and profits have turned. "We’re coming off a very low base but it’s improving. It will be a while before employment will i...
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