Cape Town- The mining industry once a backbone of the South African economy has now become a liability for the country and hanging on the possibility of president Jacob Zuma’s departure and arrival of Deputy president Cyril Ramaphosa is seen a a revival.
Mining analyst and experts believe that issues plaguing the mining charter are being challenged in court and can only be resolved once the country has a stable leadership.
Wickus Botha, of Africa mining and metals leader EY said,” “We need to first see what the new leadership will look like. There are all sorts of reports that President Jacob Zuma will be leaving. That needs to settle,” he said.
If Ramaphosa is too take over, the thing to be considered is if he will introduce changes to the leadership of the Department of Mineral Resources (DMR), Botha explained.
“If we have a new leadership and a new president who decides the process must start again, then that will take a long time. We will need certainty as quickly as possible,” said Botha.
This week mining Indaba has openly criticized Mineral Resources Minster Mosebenzi Zwane’s leadership.
Mxolisi Mgojo, Chamber president has called for ethical leadership in the department. “We need ethical people around the table, people who have general interests in the industry and what is good for the country. Only then will we have a genuine conversation.”
Photo Credit- EWN
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