JOHANNESBURG (miningweekly.com) – Mineral Resources Minister Susan Shabangu expected the JSE listing of global diversified natural resources company GlencoreXstrata to mark the beginning of more high-quality inward listings on the local bourse.
She welcomed the investment decision, saying it was a positive signal and a boost for South Africa.
GlencoreXstrata’s decision, Shabangu noted, clearly demonstrated confidence in South Africa, its mining laws and the country’s positive investment climate. “This represents the beginning of a reversal of the misguided interpretation of regulatory uncertainty in the mining industry,” she added.
Since the Mineral and Petroleum Resources Development Act was promulgated in 2004, South Africa had seen a substantial increase in the number of mining companies, mining operations, jobs created and investments.
“With the further strengthening of the Act, through the Bill that is currently in Parliament, we are confident that the sector will continue to play a key role as the cornerstone of the South African economy,” Shabangu concluded.