All eyes will be on mining stocks when the JSE opens on Monday morning to see if the plunge following Mineral Resources Minister Mosebenzi Zwane’s unveiling of the third Mining Charter has come to an end. Platinum miners were hardest hit by Zwane ordering mines to raise their empowerment levels to 30% within 12 months. The JSE’s platinum miners index fell 6.94% on Friday, led down by Anglo American Platinum which slid 7.18% to R281.31, followed by Northam, which fell 5.12% to R43.17. The JSE’s gold miners index fell 4.93%, led down by AngloGold Ashanti, which fell 6.08% to R138.31, Gold Fields fell 4.54% to R44.80 and Harmony 4% to R22.80. "Frankly, we are concerned that a minister who is criminally liable and possibly dishonest, has the audacity to make such profound changes to one of the key economic pillars of the country, when the country is economically in dire straits," the FW de Klerk Foundation said in a statement on Sunday. "We cannot but suspect that he is serving the inte...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.