Continuing rise of miners rests on speedy action by regulators and Transnet
State’s coffers will keep filling up if it facilitates the private sector’s competitiveness
The recent record earnings reported by SA mining companies are a cause for national celebration. They should be an incentive for the private sector and state to collaborate and expand market share for SA’s minerals.
The mining sector has been a shot in the arm for much-needed corporate taxes during the economic downturn. Finance minister Tito Mboweni’s 2021 national budget acknowledged this. “A surge in the provisional corporate tax payments in December exceeded expectations. This was primarily driven by the mining sector, with companies benefiting from high commodity prices and favourable exchange rate,” reads the Treasury’s Budget Review document...
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