A showdown is looming between the ailing mining industry and the mineral resources department: they will square up in court in November to settle their differences over the disputed mining charter. The court battle and reviews of the sovereign ratings by the three largest international ratings agencies, due to their potentially negative effect on the economy, are likely to be the most significant events on the economic calendar. The Reserve Bank’s monetary policy committee meeting later this month will also be watched closely for indications the committee will intensify its hawkish position.
The hostile relations between the mining industry and mineral resources minister Mosebenzi Zwane will be under the spotlight first, with the hearing kicking off in the North Gauteng high court on November 9. The extent of the breakdown in the relationship was evident early last month, when sector leaders snubbed the Joburg Indaba dinner at which the minister was keynote speaker, accusing h...
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