Africa: Digging for resolutions
There is a discernible mood of cautious optimism among stakeholders in South Africa's mining industry after certain encouraging developments in March 2010. First, during his visit to the UK, President Jacob Zuma went out of his way to reassure international investors that the Government has no intention of nationalising the country's mining industry. Then, at a high-level mining summit held in South Africa, business, labour and Government sat down together to debate the challenges facing the mining industry. The backdrop to the mining summit was longstanding uncertainty over regulatory changes affecting the mining industry, such as the new regulations accompanying the Mineral and Petroleum Resources Development Act (MPRDA). Another sticking point has been confusion over the empowerment implications for the mining industry of the most recently published Broad-Based Black Economic Empowerment (BBBEE) Codes of Good Practice, versus the older Mining Charter and Scorecard.
Increasing competition has become a key driver for South Africa’s mining sector as the country attempts to address uncertainty over regulatory changes. Morne van der Merwe reports
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