COMMODITY MARKETS:
Miningmx speaks to Adrian Saville, CIO and founder of Cannon Asset Management, about the outlook for commodities and SA's mining sector.
The State Intervention in Mining Sector (SIMS) report is high on ideology but thin on
practicalities, and assumes industry redistribution legislation hasn’t existed for a
decade.
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Mining industry entrepreneur and showman Robert Friedland continues his long-running
“dance of the seven veils” over the Ivanplats platinum project in Limpopo.
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Anglo American welcomed government’s decision to abandon nationalisation in favour
of a potential rewrite of the industry’s tax regime – a path the miner said was
“positive” and “visible”.
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Minister of Mineral Resources Susan Shabangu took a tough line on mine safety at the
Mining Indaba, but said a task team had been set up to look into industry complaints.
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Anglo American SA Executive Director, Godfrey Gomwe, said his company will not be
bullied in its dispute with Chile’s state-owned copper producer, Codelco.
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Coal has been selected as one of the five key minerals which will be part of the
government’s beneficiation strategy, because of its strategic importance to Eskom.
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