BADGER
MICHAEL AVERY: Gwede Mantashe comes out swinging against miners — and misses
Anonymous surveys are not important, but the iron laws of risk-calculating, return-seeking investment are
It is not often that I find myself agreeing with mineral resources & energy minister Gwede Mantashe. But when he chose the AGM of the Minerals Council as an opportunity to share his special brand of wisdom, I found myself clapping enthusiastically in my lounge/studio, all by myself.
Mantashe blamed the mining industry for SA’s falling stock with international mining investors. Leaning into the admittedly flawed Fraser Institute rankings, he decided to let rip. The thing is, he is right. The Fraser Institute is an anonymous opinion survey of mainly international exploration company CEOs. When Mantashe bemoaned the fact that the survey is not rating the department but the sector, which languishes in the lower reaches of a list ranking overall attractiveness for investment, and has for years now, that is true. ..
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