Comment
All we need is
just a little
patience
Get in touch
@LeonLouw3
[email protected]
www.miningmirror.co.za
W
ith 2019 upon us, it is
probably worth reflecting
on the year that’s been. This
time last year, several countries in southern
Africa were on the cusp of a new political
and economic dispensation. South Africa,
Angola, and Zimbabwe all experienced
earthmoving political change, while
Botswana elected a new president without
much fanfare. The change has been good
for business in all these countries, especially
for the mining industry in South Africa.
In January 2018, the South African
mining industry was in limbo. With an
absent and often clueless minister in charge
of one of the most important portfolios
in the country, and with Mining Charter
III slowly strangling what was left of a
decimated economic sector, there wasn’t
much hope. Though, despite a gaping trust
deficit that remains, much has changed
in the past year. New Minister of Mineral
Resources Gwede Mantashe has breathed
new life into South African mining, and
although the good news has not yet filtered
through to the bottom feeders of the
supply chain, it is only a matter of time.
Things are looking up.
The most encouraging aspects are that
exploration has finally been placed on
the map and geologists have new-found
enthusiasm for South African deposits; yes,
even for the Witwatersrand Basin! (Keep
an eye out for the next issue of Mining
Mirror to learn more about this.) Brand
new mines like Sepfluor’s Nokeng fluorspar
mine, Vedanta’s Gamsberg zinc mine, and
several coal mining operations (among
them Exxaro’s Belfast project) started their
crushers in 2018, while Ivanhoe’s Platreef
is about to do the same in the Limpopo
province.
Junior mining companies are sniffing
around for good deals, while majors like
Anglo and Exxaro have put their money
where their mouths are and through big
investments, assured President Ramaphosa
that they remain committed to South
Africa. And there are more to come, with
several new mining or expansion projects
in the pipeline for 2019.
The South African ship is turning,
and although the country is likely to go
through some additional pain in the next
two to three years, the mood has changed.
If nothing else, hope is bound to inject life
into a ‘punch-drunk’ market. Yes, it might
all happen a tad too slow to our liking,
especially in a world where everything
happens at cut-throat pace; however, the
country will find its feet and emerge as the
great African giant it is supposed to be.
If commodity prices, especially platinum,
head north, and the macroeconomics work
in South Africa’s favour, the change might
be quicker than we expect. All South
Africa needs right now, more than ever,
is patience, belief, and that never-say-die
attitude for which its resilient people
are known.
Leon
Editor
JANUARY 2019 MINING MIRROR
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