The Big Read
Eskom, Transnet kill mining’s potential
Indaba reveals South Africa’s miners are fighting a losing battle for investors scared off by logistical problems
There were mixed messages at the Investing in Africa Mining Indaba in Cape Town this week: South Africa still has some of the world’s best assets and can reverse the decline in mining investment — but it must attend to the power crisis urgently and deal with logistical bottlenecks strangling exports.
Mining production has peaked at a record R1.18-trillion, and with commodity prices rising 70%, export values grew to R878bn last year on surging demand. But this has done little to help improve investor concerns about the impact of power blackouts and challenges at state-owned logistics company Transnet. ..
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