Corruption over the past years crippled mining sector – Minerals Council
CAPE TOWN – The damage that was done to South Africa's economy over the past nine years before Cyril Ramaphosa became President has had huge impact on the investability of the mining sector, Minerals Council South Africa CEO Roger Baxter said on Tuesday.
"A year ago we arrived in Cape Town for the 2018 Indaba, there was cautious hope in the business community that the South African political centre was going to change for the better, and this was because Cyril Ramaphosa had just been elected the [African National Congress] ANC President the previous December," he said.
"It was still ten days before Mr Ramaphosa became President . . . and a full 21 days before Gwede Mantashe [was] to be appointed to replace Mr [Mosebenzi] Zwane as the Mineral Resources Minister."
Baxter was speaking at the twenty-fifth annual Investing in African Mining Indaba under way at the Cape Town International Convention Centre (CTICC).
He said that since the election of Ramaphosa and Mantashe's appointment as mineral resources minister, the business and mining environment has changed.
"For the mining industry in particular, the minister adopted a very similar approach. We are fully cognisant of the damage that was done to our economy and the execution in our economy over the course of nine years before Mr Ramaphosa's election to presidency. The mismanagement and corruption that took place in that period has had a huge impact on the investability of our mining sector," Baxter said.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation