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RUNNING THE RAND RAGGED

14th June 2013

By: Darlene Creamer

  

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While mine labour rivalry runs the rand ragged and imperils those down at the heel, the stock exchange rises to record levels to reward the better-heeled. Rand weakness fuels inflation and prompts the invested to take refuge behind rand-hedge stocks. Restoration of economic stability will allow South Africans to sell a far more positive story. Assigned by President Jacob Zuma to do the turnaround job is Deputy President Kgalema Motlanthe, himself a former miner, Finance Minister Pravin Gordhan, who is out there reassuring investors, Minerals Minister Susan Shabangu, who must create policy certainty, and Labour Minister Mildred Oliphant, who must ensure order. Backing them to the hilt is the Chamber of Mines, and fingers are being crossed that labour will join the party.

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