GOLD 1283.88 $/ozChange: 0.51
PLATINUM 1403.00 $/ozChange: 0.00
R/$ exchange 10.58Change: -0.04
R/€ exchange 14.62Change: -0.06
 
We have detected that the browser you are using is no longer supported. As a result, some content may not display correctly.
We suggest that you upgrade to the latest version of any of the following browsers:
         
close notification
powered by
Advanced Search
 
 
 
 
REMOVING THE ECLIPSE 
REMOVING THE ECLIPSE
TEXT SIZE
Text Smaller Disabled Text Bigger




Published on 18th April 2014
Updated 15th April 2014

South African politicians often refer to the progress that has been made in transforming the South African mining sector from a “sunset business” into a “sunrise industry”. But most big and small mining company heads continue to appeal for a removal of legislative and regulatory ‘eclipse’ that are blotting out the sunlight that is meant to be blazing through. One hopes that the factors causing the darkening will soon be removed. The South African economy, which was built on diamonds and gold, needs to be rebuilt, once again using its mineral endowment as the foundation on which a new South African economic superstructure is built. Only this time around, both large and small aspirants must be enabled so that all entrepreneurial boats are floated and infrastructure-enabled, so that this country is ready for the next upturn in demand for commodities and does not lose out when it arrives. South Africa performed ignominiously during the last boom from 2000 to 2008, which Investec Asset Management strategist Michael Power describes as a mere resting between courses, and the past couple of years as an abrasive palate-cleanser ahead of the eventual main course.