[miningmx.com] – THE appointment of Mosebenzi Zwane as South Africa’s new mines minister – formerly a provincial lawmaker – could unseat progress made in gold industry wage talks, said Bloomberg News citing the views of analysts.
“You need a really intelligent, experienced, strong and honest guy in there
who carries his weight in the upper echelons,” Peter Major, a mining analyst at Cadiz Specialized Asset Management told Bloomberg News.
“The decision to change the minister when you’ve got wage negotiations at the gold mines and when you’ve got commodity prices quite low, that is not good,” said Hurbey Geldenhuys, a mining analystat Vunani Securities.
“It could be disruptive. There was good progress by the previous minister and it would be a pity if that momentum were to be lost,” he told Bloomberg News.
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