Mining: Finding solutions to the unintended consequences of poor policy
As a country, and as an industry, we need to be asking how to create an enabling environment which will encourage business to invest in SA
The government, under the leadership of President Cyril Ramaphosa, is seeking to stimulate growth and encourage greater investment in SA. However, the economy continues to stagnate under lingering policy uncertainty, much of which stems from the previous administration. Nowhere is this more evident than in the mining sector. In recent months, economic pressure, declining demand for certain commodities, lower prices, ever increasing costs and regulatory limbo has been brought to bear on the South African mining industry. Lonmin is looking to lay off 12,600 miners, Implats has said the restructuring of its operations which will result in 13,000 job losses, and Gold Fields has announced the retrenchment of 1,560 workers as it tries to turn around its loss-making South Deep operations. On this stage, mineral resources minister Gwede Mantashe is looking for final public consultation on the reworked third iteration of the Mining Charter. Since taking over from Mosebenzi Zwane, Mantashe ha...
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