Get more Mail & Guardian
Subscribe or Login

It’s mine, all mine

South Africa is open for business and the government is committed to ensuring the mining industry has a stable regulatory and policy environment.

This was government’s key message to investors and the industry at the annual Mining Indaba, held in Cape Town this week.

A year ago, tensions between the government and the mining industry were high, because the parties were locked in a legal battle over the third iteration of the Mining Charter.

This year the state was at pains to demonstrate that much has changed and President Cyril Ramaphosa became the first president to address the annual event.

Since he has been in office and Gwede Mantashe was appointed the mineral resources minister, the department has finalised a new charter and the problematic Mineral and Petroleum Resources Development Amendment Bill, which tried to lump the oil and gas sector with mining, has been withdrawn.

READ MORE: Mine standoff is a licence to rethink laws

“We want to see you not in the courts but in your boardrooms where we can talk and debate,” Ramaphosa told delegates. “Please be assured that Team South Africa stands ready to work with you as we set mining on a new path of growth and renewal.”

Regarding anxiety about land expropriation without compensation, Ramaphosa said it would only apply for the purposes of land reform “within a clearly defined set of circumstances. Investors need not fear that their investments and assets will be taken away from them.”

The security and affordability of energy supply were also topical issues at the indaba, coming at the same time as the National Energy Regulator of South Africa (Nersa) is holding a consultative process to determine whether Eskom should be granted a 15% tariff increase each year for the next three years.

In its submission to Nersa, the Minerals Council said the increase would result in 95% of the gold industry becoming loss-making, threatening about 100 000 jobs. In the platinum sector, more than 11 000 jobs would be at risk.

Without giving any details, Mantashe said the government was addressing the problems of administered prices, including that of electricity. 

Subscribe to the M&G

Thanks for enjoying the Mail & Guardian, we’re proud of our 36 year history, throughout which we have delivered to readers the most important, unbiased stories in South Africa. Good journalism costs, though, and right from our very first edition we’ve relied on reader subscriptions to protect our independence.

Digital subscribers get access to all of our award-winning journalism, including premium features, as well as exclusive events, newsletters, webinars and the cryptic crossword. Click here to find out how to join them and receive a 40% discount on our annual rate.

Tebogo Tshwane
Tebogo Tshwane

Tebogo Tshwane is an Adamela Trust financial journalism trainee at the Mail & Guardian. She was previously a general news intern at Eyewitness News and a current affairs show presenter at the Voice of Wits FM. Tshwane is passionate about socioeconomic issues and understanding how macroeconomic activities affect ordinary people. She holds a journalism honours degree from Wits University. 

Related stories

Advertising

Subscribers only

Seven years’ radio silence for taxpayer-funded Rhythm FM

Almost R50-million of taxpayers’ money has been invested but the station is yet to broadcast a single show

Q&A Sessions: Zanele Mbuyisa — For the love of people-centred...

She’s worked on one of the biggest class-action cases in South Africa and she’s taken on Uber: Zanele Mbuyisa speaks to Athandiwe Saba about advocating for the underrepresented, getting ‘old’ and transformation in the law fraternity

More top stories

Finding an HIV vaccine: Five lessons from the search for...

The Covid-19 pandemic has shown that vaccine development and testing timelines can be shrunk from decades to months, but not without shortcomings

Pandemic leaves 1.4 billion learners worldwide behind on education

Human Rights Watch warns that learners may take years to recover from the damage caused by school closures

Israel-Palestine: It’s a myth that there are two equal sides...

BDS South Africa calls for the world to listen to what Israel’s actions are saying and apply full sanctions against that apartheid state

Tekkie Town’s Steinhoff fight: ‘We will get our business back’

Bernard Mostert on the ordeal of losing a business he helped build and the fight to get it back
Advertising

press releases

Loading latest Press Releases…
×