Steve Fiscor, Publisher/ Editor-in-Chief
A Mining Crisis Looms in South Africa
The world these days seems highly polarized, where evenly divided groups of people are taking extreme positions. This can be seen in several recent elections and referendums, and it has shaken the status quo. This is also having a knock-on effect on mining. Some governments who realize the importance of mining to regional economies have reversed course and created an environment conducive to mining-related investments. Others, many of which take mining for granted, are moving in the opposite direction, not realizing that excessive taxation and regulation may be killing the Golden Goose.
E&MJ’s lead news story this month covers the new mining charter that was introduced in South Africa during June. The country is blessed with an abundance of natural resources. Some of the world’s deepest and richest gold mines are located near Johannesburg. They are steeped in history. They are also mature and costly to operate. This new mining charter, however, covers all mining, not just gold. South Africa produces platinum group metals, diamonds, coal, iron ore, etc.