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EROSION OF AN INDUSTRY:

6th July 2018

By: Martin Creamer

Creamer Media Editor

     

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Bit by bit, South Africa’s mining industry has been eroded over the past two decades. From the dawn of our new democracy, the National Treasury, for reasons best known to itself, set out to ensure that mining played a lesser part in the overall economy. Legislators followed with consistent repression and corruption saw to the rest. The upshot is the sort of report carried by Bloomberg that provides accounts of former mineworkers in mining jurisdictions working as car guards and not knowing where their next meal is coming from. Can the country emerge from this steep downturn? Without doubt, it can, because it still has massive value in the ground. Will it emerge? If its citizens throw their full weight behind the Cyril Ramaphosa Presidency, yes, it can emerge strongly. In the meantime, belief, hope and patience are the three necessary ingredients.

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