It’s very hard to get through to the National Treasury. Word is that the only group the Treasury listens to are the 11 financial institutions that control 90% of South Africa’s savings. It’s also very hard to get through to the Johannesburg Stock Exchange (JSE). Word is that the JSE is much keener on trading than being a primary capital raiser.
It’s also not easy to get through to the Department of Mineral Resources and Energy (DMRE), even though the economic transformation committee (ETC) of the African National Congress (ANC) has recommended that mining juniors be incentivised by government and encouraged to list on the JSE. Having failed with two home-made incentivising attempts, the Treasury must swallow its pride and emulate what has already been proven over and over again in other mining jurisdictions.
The JSE must do the same, and the DMRE must listen to what the ANC ETC has realised is essential for South Africa’s mining survival. Is it that hard to copy what is done highly successfully elsewhere? No, it’s not; so do it, Treasury, JSE and DMRE, and do it without any further delay.