[miningmx.com] – THE Johannesburg Stock Exchange (JSE) said all its markets would pause for five minutes at 11am today as a mark of respect for former South African president Nelson Mandela who died on December 5.
“Nelson Mandela’s global statesmanship made him one of the most revered leaders the world has known,’ said JSE CEO Nicky Newton-King.
The passing of Nelson Mandela also drew tributes from the South African mining sector, including Anglo American CEO, Mark Cutifani.
“Without his legacy, South Africa would not have become the thriving country that it is today, and South Africa’s economy would not have achieved the gains it has in the last 19 years,” said Cutifani.
“History will recognise him as a giant among men; as an iconic leader who fought throughout his life not only for equality, but for the basic human rights of all.”
Said Transnet CEO, Brian Molefe: “It is a devastatingly sorrowful day for South Africans – and indeed for all people around the world. We have lost a great leader and humanitarian who inspired us and gave hope to millions”.
Commenting on possible market reaction, Peter Attard Montalto, an analyst for Nomura International in London, said: “I’ve written a lot in the past about the market impact and political impact of South Africa without Madiba and I still believe he has left a strong enough country with solid foundations to mean we should dismiss the inevitable doom-sayers and expect little market reaction.
“That’s all I want to say on that subject at this time”.
