Three years on, the Department of Mineral Resources has finally given effect to the court’s decision by amending SIOC’s existing mining right to include in it the residual 21.4%. Kumba eventually had to resort to an internal appeal process to force the minister to sign the right over to it. One could point to the negative signal it sends investors when the department takes so long and makes it so difficult for a company to exercise a right that the highest court in the land has upheld. Or one could point to the positive and urge support for strong institutions that combat corruption rather than efforts to erode their power. That at least is what Anglo American CEO Mark Cutifani and Kumba’s leadership are doing. "The institutions do work, if you back them and go through the processes," he said on Thursday after Kumba’s announcement. "We will do everything we can to use institutions in the appropriate way — that is the only way we can fight corruption." It is an important message at a...
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