https://www.miningweekly.com
Africa|Exploration|Financial|Mining|Services
Africa|Exploration|Financial|Mining|Services
africa|exploration|financial|mining|services

Fraction of a per cent of South Africa’s R9-trillion savings needed for win-win exploration

30th July 2021

By: Martin Creamer

Creamer Media Editor

     

Font size: - +

The Financial Advisory and Intermediary Services Act has changed the very nature of retail stock broking. Retail stock brokers have given way to wealth managers, who make their money from portfolio management fees, not from stock exchange trading income. Compliance processes now require a model portfolio with an approved list of shares that can be bought.

Tax-free savings accounts have to be managed by members of the Association of Savings and Investment in South Africa. This is making it nigh impossible to promote exploration in South Africa. The situation needs to be reviewed urgently if the South African economy is to save its mining industry from becoming a pale shadow of its current self. A mere fraction of a per cent of South Africa’s R9-trillion savings kitty would get South Africa’s exploration going like a train.

But what happens in other highly successful mining jurisdictions such as Canada and Australia is being prevented from happening here. If this short-sighted situation is allowed to continue, the South African economy will over time be dealt a massive body blow in the form of a drastic shrinking of its all-important mining industry.

To watch Creamer Media's latest video reports, click here
 

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

Comments

Projects

Showroom

Yale Lifting Solutions
Yale Lifting Solutions

Yale Lifting Solutions is a leading supplier of lifting and material handling equipment in Southern Africa. Yale offers a wide range of quality...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.128 0.164s - 89pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: