PLEASE NOTE:

MyNews24 is a user-generated section of News24.com. The stories here come from users.

 
Lelanie
 
Comments: 3
Article views: 678
 
 
Latest Badges:


 
View all Lelanie's badges.
 

How the African Mining Indaba may affect the future of SA mining

29 January 2014, 12:48

With the onset of the mineworker strikes last week Thursday, it may be interesting to note the general manner in which international investors attending the African Mining Indaba will react to debates on the labour unrest in South Africa.

The Investing in African Mining Indaba will be held at the CTICC in Cape Town from 3-6 February and this year celebrates its 20th annual congregation of some of the highest investors and decision-makers in African mining. It is believed to be the one event that brings the macrocosm of African mining together.

As the biggest congregation of mining delegates in the world, the Mining Indaba acts as the best marketing opportunity for mining companies, allowing for all investors and stakeholders to get up to speed with the most current economic developments in the industry.

Big investors to discuss current strikes at the Indaba

Given the current mineworker strikes, stakeholders in African mining are believed to be initiating a debate regarding the labour issues so often encountered in South Africa.

In a recent article, Carel Smit, KPMG Africa’s head of energy and natural resources, stated that one of the major themes at this prestigious event will, in fact, be the continuous strikes. He continued to state that the strikes initiated by AMCU (the Association of Mineworkers and Construction Union), along with its continuous disputes with NMU (the National Union of Mineworkers), could influence investor discernments of the South African mining industry.

Ian Coles, global mining head at Mayer Brown, says that “The Indaba is a litmus test for the vibrancy of the industry in any particular year.”

Should big-time investors get the full report on the current state of mining in South Africa, it may be likely that investments will drop to such a degree that the mining industry in South Africa will have to face increasingly serious implications. 

How will the strikes affect export profits?

According to a recent report, the two-day strike initiated by NMU in September cost mining companies as much as R349 million, as reported by the Chamber of Mines. Government data reveals that China buys about 11 percent of South Africa’s exports from January to November. If these exports don’t maintain their produce, where will South Africa find viable income to keep its mining industry afloat?

As the Rand value recently dropped in value to about R11 to the dollar, one would expect exports to gain exceptional benefit from this drop, yet the fact that strikes are again underway results in decreased production levels - there may not be enough platinum to export in due time.

Whether investment in South African mining will drop due to decreased production and subsequent decrease in export is still only speculation. It may be that attendees of the Mining Indaba will discuss the issue and come to a general agreement as to what the best solutions are for the continuous labour troubles in South African mining.

If they fail to rectify this undeniable disaster, there is no telling what the future holds. 

Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received.
 

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
3 comments
Add your comment
Comment 0 characters remaining

Read more from our Users

Submitted by
Angua Wolf
Has the SA dream failed?

South Africa is like a baby who had a difficult pregnancy, a relatively trouble free birth, and has now developed severe complications. Read more...

0 comments 0 views
Submitted by
Maria Joubert Muller
Fingerprint biometrics at the ATM

People from different walks of life have voiced both positive and negative aspects of the technology, and many biometrics experts have argued both sides of the coin. Read more...

2 comments 100 views
Submitted by
The Scribe
Fake Photoshopped Pictures Fuel U...

My plea today is to all those who share images on social platforms without thinking twice! Read more...

4 comments 1110 views
Submitted by
Guy Alain Lukoki
Your children are not heirs of yo...

Jacob was chosen by God and blessed by his father. He had divine visions and heard the voice of God when he was running from his brother’s wrath.  Read more...

8 comments 229 views
Submitted by
Eric Rimmer
Proof of Heaven & Hell

The answer was purportedly in response to the bonus question on a University of Arizona chemistry midterm: “Is Hell exothermic (gives off heat) or endothermic (absorbs heat)?” Read more...

15 comments 978 views
Submitted by
Kurt Ellis
The Real Housewives of Nkandla - ...

Jacob Zuma stared at the page in front of him. His brow creased with concentration as a single bead of sweat meandered down his temple. Read more...

1 comments 433 views

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Escape winter, head to Mauritius

Escape winter by spending 7 nights in Mauritius' tropical bliss from R13 215 per person sharing. Includes return flights, airport transfers and accommodation. Book now!

Kalahari.com - shop online today

Welcome on board the kalahari.com 24 hour sale on books!

Today only, buy 1 book and get 1 FREE on the top 100 books. Offer expires midnight 23 April. While stocks last. Shop now!

Get 50% off selected books!

Buy 2 books and get 50% off the second book. Offer valid while stocks last. Shop now!

Mother’s Day special offers!

Spoil mom with these awesome specials that will warm her heart. Shop now!

Twisp – the smoking alternative

Buy any 2 refills for R250 and save R149. Offer valid while stocks last. Shop now!

25% off bestselling books!

The Real Meal Revolution by Tim Noakes, Jeffrey Archer’s Be Careful What You Wish for, Man’s Search for Meaning by Victor E. Frank and many more titles. Shop now!

OLX Free Classifieds [change area]

Samsung Galaxy s4

Mobile, Cell Phones in South Africa, Western Cape, Cape Town. Date October 24

Best bargain in big bay

Real Estate, Houses - Apartments for Sale in South Africa, Western Cape, Cape Town. Date October 25

VW Golf 6, 1.6 Trendline (Excellent condition)

Vehicles, Cars in South Africa, Western Cape, Cape Town. Date October 25

 

services

E-mail Alerts The latest headlines in your inbox

RSS feeds News delivered really simply.

Mobile News24 on your mobile or PDA

E-mail Newsletters You choose what you want

News24 on your iPhone Get News24 headlines on your iPhone.

SMS Alerts Get breaking news stories via SMS.

Blogs Your opinion on you, me and everyone.

Calais Website keywords automated by OpenCalais.

 
Interactive Advertising Bureau
 
© 2014 24.com. All rights reserved.
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.








Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.