for subscribers

Corruption erodes investment opportunities - mining CEO

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
The closed Blyvooruitzicht gold mine near Carletonville. (PDean Hutton/Bloomberg)
The closed Blyvooruitzicht gold mine near Carletonville. (PDean Hutton/Bloomberg)

Johannesburg – To attract investment, mining companies can build a solid business, however, investors are most perturbed by corruption.

This is according to Steve Phiri, CEO of Royal Bafokeng Platinum, who was speaking at the Joburg Indaba, held in Sandton on Wednesday. Phiri was part of a panel discussion with CEOs Neal Froneman of Sibanye Gold, Chris Griffith of Anglo American Platinum and Nick Holland of Gold Fields.

“If you do not have a good relationship with government and a sustainable regulatory environment, investors run fast from you,” said Phiri. He explained that investors are concerned when they see “morality collapsing”. “People are concerned if their investment is not protected and safe.”

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
15.13
(-0.14)
ZAR/GBP
20.70
(-0.11)
ZAR/EUR
18.42
(-0.11)
ZAR/AUD
11.67
(-0.11)
ZAR/JPY
0.15
(-0.86)
Gold
1855.20
(+0.05)
Silver
25.47
(+0.10)
Platinum
1100.00
(+0.44)
Brent Crude
54.81
(-1.30)
Palladium
2352.23
(+0.52)
All Share
63987.92
(-0.29)
Top 40
58886.26
(-0.14)
Financial 15
11685.83
(-2.13)
Industrial 25
86576.24
(+1.21)
Resource 10
62699.98
(-1.34)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
21% - 716 votes
No, I did not.
52% - 1778 votes
My landlord refused
28% - 951 votes
Vote