SURVEY RESULTS
Mining has potential to uplift, but needs state support
The Chamber of Mines recently conducted a survey among its members in an attempt to understand the investment and employment potential of the mining sector in the event of a return to best practice in policy, legislation and regulation formulation. We asked: "What if the South African mining sector could get back into the top 25% of investment attractiveness rankings, which is where our potential suggests we should be?" Altogether 16 companies responded to the survey, representing a cross-section of the various commodities and making up the overwhelming bulk of mining production in SA. The South African mining industry’s real GDP in 2016 was 2.6% smaller than that recorded in 1994. The financial services industry, on the other hand, has grown by 168% in the same period. The question is whether this contrast is due to lack of potential or the negative effects of the regulatory environment. And the responses to the survey offer an indication of the effect of the regulatory environment...
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