SOUTH Africa’s mining sector improved its overall position in the Fraser Institute’s annual survey which monitors business conditions. The country moved up to 48th position out of 91 jurisdictions covered in 2017, said BusinessLive.
In 2016, South Africa scored its lowest assessment in five years which at 53.6 points placed it 74th out of 2014 investment destinations surveyed, said the publication. It had a score of 62 points in 2017. The survey assesses the ability of South African policy-making to attract foreign investment to its mining sector.
In terms of the Fraser Institute’s policy perception index, however, South Africa did not perform as well. It scored 42.7 points placing the country’s ranking at 81st out of 91 jurisdictions monitored. In 2013, it ranked 78 out of 112.
South Africa’s mining industry has been negatively affected by the publication of a Mining Charter redraft in June which the Chamber of Mines said included regulations it had never seen before. Normally, Mining Charter changes are negotiated. The Chamber took the matter to the High Court but has since postponed the hearing following a promise by newly appointed president, Cyril Ramaphosa, to negotiate a new Charter.
