Tough truths for SA mining – Mark Cutifani

FILE PICTURE: Miners. Picture: Michel Bega

FILE PICTURE: Miners. Picture: Michel Bega

South Africa’s mining industry has to face some tough truths, Anglo American chief executive Mark Cutifani said on Wednesday.

“The reality is that the world bought into the rainbow nation… the tough message today is that most parties outside South Africa are not vested in our forward success,” he told The Joburg Indaba on mining, in Sandton, Johannesburg.

“We have to make our own future because we can’t rely on anyone else.”

South Africa was ranked outside the 50 top mining countries in the world despite it having the world’s largest reserves, Cutifani said.

More certainty around the country’s policies was required.

He said there had been improvements, but there were still problems.

“There are still things we have to cover, [and] we have to say it honestly and directly but constructively.”

Cutifani applauded Mineral Resources Minister Ngoako Ramatlhodi for being constructive and hands-on.

He said mining was South Africa’s most important industry, but it did not collaborate enough with other parties.

Three critical issues needed to be resolved. There needed to be a constructive conversation on the developmental pricing structure, changes to the Mining Charter targets, and increasing costs pressures.





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