Changing the narrative around SA mining

The last few years have been extremely challenging for the South African mining industry. Investment into the sector has been weak and many projects have stalled. “Companies have been focusing on optimising their portfolios of assets, strengthening their balance sheets, and being very disciplined in spending capital,” says Greg Webber, co-head of mining and resources at Nedbank CIB. “There has been a large shift to cost cutting. Coupled with that, access to the local equity and bond markets has largely been closed for mining companies. It has been an ‘investment…

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Zwane halts Mining Charter… for now

Minister of mineral resources, Mosebenzi Zwane, has agreed not to implement the new Mining Charter, pending the judgement of an urgent interdict by the Chamber of Mines. The chamber wants to prevent the charter from being enforced before its court application to have the latest version, published on 15 June 2017, reviewed and set aside is heard. Key to the Mining Charter is an increase in black economic empowerment shareholding of all mines from a previous 26% to 30%. It also requires 50% of all board members and executive management…

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