‘Interference damages mining contribution’

2019-04-24 06:01

According to the Institute of Race Relations (IRR), mining could contribute much more to the South Africa economy with less government interference.

Peter Fabricius, IRR consultant, said mining was still key in over­coming South Africa’s three critical enemies: poverty, unemployment and inequality.

This sentiment is based on The September 2018 Mining Charter: An improvement, but transformation still trumps sustainability.

The report argues that it is through the business of mining – exploiting the country’s rich and largely untapped mineral resources – rather than by meeting onerous empowerment and other obligations that the sector will be capable of making a much greater contribution to growing the economy, creating jobs, and enabling South Africans to have better lives.

“The 2018 Mining Charter measures the context of a real-world economy in which population growth has outstripped faltering economic growth for some five years, leaving un­employment at an unsustainable level of 27% or more,” said Fabricius.

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