Mining is expected to detract from first-quarter GDP, despite a 3.1% increase in February. But economists say an amended Mining Charter, to be released in May, should revitalise investment in the sector. Mineral Resources Minister Gwede Mantashe said on Tuesday engagements with stakeholders about the charter had mostly been finalised and a new charter would be released at the end of May. Statistics SA data released on Thursday showed that mining production increased 3.1% year on year in February. In the three months ended February, seasonally adjusted mining production decreased 2.4% compared with the previous three months. The R230bn industry has been plagued by depressed prices, social unrest and policy uncertainty. It contributes 7.48% of GDP. Relations between the mining industry and ministry deteriorated in the past year over an impasse on the charter. "Policy and regulatory uncertainty around the Mining Charter has detracted from investment into the sector, preventing stronger...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.