African National Congress (ANC) secretary-general Gwede Mantashe makes a valid point about South Africa’s JSE being hurt by South African companies migrating their primary listings to foreign stock exchanges. Excerpts of last week’s lengthier article are repeated on page 32 of this edition of Mining Weekly, along with Mantashe’s criticism of South African mining companies ring-fencing their South African assets in order to decontaminate them from the global assets that they have built up with South African money. It is good that a new elevation is put on companies that show national pride and we hope both the ANC and the government enter a new era of giving special recognition to corporates that are proudly South African.

Investor confidence in South Africa must be restored. Read on page 16 of this edition of Mining Weekly of African Rainbow Minerals (ARM) executive chairperson Patrice Motsepe contending that the countries that have created the most jobs, raised living standards highest, improved literacy most and provided the best health facilities are those that offer global investors the highest degree of confidence. To watch a video of Motsepe on the confidence issue, go to page 16 and scan the barcode with TagReader (at www.gettag.mobi) on your cellphone or go to ‘Multimedia’ and the 'Video Clips' at www.miningweekly.com.

Chamber of Mines of South Africa president Mark Cutifani has welcomed the decision of the National Energy Regulator of South Africa (Nersa) to halve the electricity tariff increase that Eskom wanted. As outlined on page 10 of this edition of Mining Weekly, Eskom is having to make do with an average yearly tariff increase of 8% between 2013 and 2018, and not the 16% that it sought in its application for the third multiyear price determination (MYPD3) period. The allowable revenue allocation of nearly R1.1-trillion that Eskom has been denied would have increased the utility’s average selling price of electricity to a nominal 128c/kWh by 2017/18 from the 61c/kWh it charges now. Instead, the tariff will rise to 89.13c/kWh by the end of the MYPD3, and Eskom will have to keep its head above water with R906.6-billion. From April 1, Eskom can raise its average selling price to 65.51c/kWh and during the MYPD4 period transition back to match inflation. To watch a video of Nersa’s Thembani Bukula responding to Mining Weekly’s Terence Creamer, and a second video on how the regulator arrived at the determination, click here.