[miningmx.com] — SOUTH Africa’s macroeconomic policies, particularly those considered for the mining industry, will erode competitiveness and stall investment, AngloGold Ashanti chief executive Mark Cutifani said on Thursday according to a report by Reuters.
“We have got to be talking about working with the industry to grow the industry,” he was quoted. “The public debate is 180 degrees in the wrong direction in terms of encouraging the industry to invest and grow.”
Criticising measures being considered by the ANC-led government including labour law reform and a proposed new resource tax, Cutifani said South Africa’s public policies are “absolutely inconsistent” with its growth and employment objectives.
“We are struggling to remain competitive in South Africa. Its been a tough year… and if people are now talking about increasing taxes then the impact of that will be reduced investment,” he said.
