3rd August 2018

By: Martin Creamer

Creamer Media Editor


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Significant mining investment is not being landed because the Mining Charter is being kept in midair. While some mining majors have taken their eye off South Africa completely and have opted to land their investments in more predictable mining jurisdictions, at least two majors – Glencore and Anglo American – have made it clear that they are prepared to continue to circle in the expectation of the eventual emergence of an improved investment climate. They are correct to keep circling, because President Cyril Ramaphosa wants to hit his target of attracting $100-billion in investment, and the $2.5-trillion worth of metals and minerals that South Africa has in the ground remain attractive. While Glencore bids for hydrocarbon assets, Anglo has expressed its keenness to invest in copper exploration. Interestingly, Anglo been beaten to the punch by emerging mining company Orion Minerals, which is not only restarting Anglovaal’s former zinc and copper mine at Prieska, but also reporting regular success as it uses high technology to explore across a large area of the prospective Northern Cape.


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