MINERAL SECTOR
Gwede Mantashe must cross his Rubicon to renew the mining industry
SA now has the opportunity to open the industry to junior players, recreate new hope and attract much needed capital
It is unfortunate that Mineral Resources Minister Gwede Mantashe did not immediately jump at the opportunity to right the wrongs perpetrated by his predecessor. The government appears to believe investment will return to the mining industry if it merely changes the figurehead, rather than thoroughly review and redirect its efforts. There exists a rare and advantageous opportunity to start afresh, but it appears that Mantashe has opted rather to cherry-pick good news stories and ignore the uncomfortable truths within the statistics. The Annual Survey of Mining Companies 2017, published in March by the Fraser Institute, highlights some improvements in the country’s mineral investment landscape, such as the mid-ranking investment attractiveness index, which is significantly up from 2016. But it is easy to use statistics that are pleasing and tell the story you want to tell. What takes objective skill is interpreting data without self-pleasing bias, especially since the new minister is ...
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