MINING SECTOR
BRIAN KANTOR: Mining Charter seeks redistribution, not growth
There is much to be gained from a thriving mining sector. Its promise for growing incomes is as great — perhaps greater — than any other sector of the South African economy given the opportunity. There would be extra income to be earned on the mines and rigs and additional taxes paid by many more workers. There would be more jobs gained and increased incomes earned supplying goods and services to additional mining enterprises. Exports would grow and the balance of payments would benefit from inflows of permanent mining capital. The exchange value of the rand would become less vulnerable to outflows of portfolio capital — to the advantage of businesses and their customers in our economy. The recipe to stimulate rapid growth in mining activity is simple: make the laws and regulations applied to the owners of mining companies at least as attractive as anywhere in the world. Applied to capital, that realistically can only be expected from well-established, well-diversified global mining...
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.