SA mining surges into R17bn profit, but dividends fall a quarter
Miningmx – The South African mining industry staged a modest recovery during 2017 with the 25 companies covered in the annual survey carried out by accounting firm PwC reporting an overall net profit of R17bn compared with an overall loss of R46bn for 2016.
How does the mining industry in South Africa attract investment?
Mining Review – I strongly believe mining in South Africa still has a great future. We still employ 460 000 people and touch lots of families who depend on these 460 000 employees.
Confidence crippled as policy flops cause crisis
Business Day – Key governance and policy challenges in SA have eroded business and investor confidence.
Chamber of Mines backs Cosatu as 'SA deserves better'
Fin24 – The Chamber of Mines has become the second business formation to voice its support for Trade Union Federation Cosatu’s protests against state capture and corruption.
CoM support trade union’s nationwide march against corruption
Mining Weekly – The Chamber of Mines of South Africa (CoM) said on Wednesday that it would join Business Unity South Africa and Business Leadership South Africa in support of the Congress of South African Trade Unions (Cosatu) stance against State capture and corruption.
Investors demand consultative process on Mining Charter 2017
Asisa – The Association for Savings and Investment South Africa (ASISA) calls on Mineral Resources Minister, Mosebenzi Zwane, to withdraw the contentious 2017 Mining Charter and to appoint a proper representative body to renegotiate the mining sector empowerment Charter.
Uncertainty reigns over banks’ transformation targets
Fin24 – Minister of economic development Ebrahim Patel has moved to calm rattled bankers who fear that the Financial Sector Charter (FSC) could go the way of the Mining Charter and further oblige banks and financial services institutions to radically accelerate the pace of transformation in the R4.8tr industry.
Context and analysis show SA’s top firms are not hoarding cash
Business Day – There are claims that South African companies are hoarding cash as a protest against the ANC government’s policies or lack of policy.
Mining Charter: Zwane granted a delay on review hearing
Daily Maverick – Mineral Resources Minister Mosebenzi Zwane’s mining charter threw the industry into turmoil. Despite backing the charter, he hasn’t yet been able to defend it in court, once again postponing the review application from the Chamber of Mines.
Why the Chamber’s deal with Zwane is a strategic masterstroke
Miningmx – There's more than meets the eye to the Chamber of Mines’ decision not to interdict the redrafted Mining Charter. This is according to market sources who say the Chamber may concluded a strategic masterstroke.