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CoM welcomes ‘sound’ National Budget

27th February 2014

By: Natalie Greve

Creamer Media Contributing Editor Online

  

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JOHANNESBURG (miningweekly.com) – The Chamber of Mines (CoM) has welcomed what it describes as a “sound” 2014 National Budget, saying it is encouraged by the focus on prudent macroeconomic decision-making in a challenging global and local economic environment, particularly in the context of the struggling mining sector.

The chamber said on Wednesday that the Minister’s focus on the need for a partnership between government, business, labour and civil society to achieve the higher growth rates envisaged in the National Development Plan was critical for the mining sector and the country.

“It is through [such] collaborative problem-solving partnerships that we can break down the barriers to higher growth for the benefit of all citizens,” noted CoM president Mike Teke.

He added that the Minister’s recognition of the challenges faced by the mining sector and the commitment shown by government to working with the industry to restore stability in the industrial relations space and streamline mining licensing were “important statements”.

In addition, the commitment by government to improve the efficiency and availability of infrastructure, particularly freight rail and electricity were “important commitments” fully supported by the mining industry.

“We will work collectively to continue to improve the investment environment with government and other key stakeholders; however, we implore government to encourage its State-owned companies to deliver on their infrastructural commitments and, in the case of electricity, for the load to be shared between all users during tight supply periods,” Teke noted.

He added that the chamber looked forward to engaging in the consultation process on mining sector contributions to managing the issue of acid mine drainage.

Edited by Tracy Klückow
Creamer Media Contributing Editor

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