Eddie Rakabe | No sustainable growth in mining without equity

accreditation
Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
0:00
play article
Subscribers can listen to this article
 Mining bosses should cut the policy uncertainty scarecrow and enjoy the windfall profits, says the writer. (iStock)
Mining bosses should cut the policy uncertainty scarecrow and enjoy the windfall profits, says the writer. (iStock)

Resurging commodity prices and tight fiscal environment will most likely re-energise calls for increased mining tax as the country draws closer to the elections. As a countermeasure, mining bosses may want to share gains with employees, writes Eddie Rakabe. 

Mining bosses should cut the policy uncertainty scarecrow and enjoy the windfall profits – not forgetting the hefty bonuses, because for many people, including the very mine workers, uncertainty is an unending daily livelihood struggle.

Sibanye Stillwater's CEO Neal Froneman was recently quoted lamenting an unfavourable investment climate in South Africa after the company amassed a record R20 billion profit over a three-month period – benefitting from the surge in global commodity prices. For Froneman, the investment atmosphere is impinged by uncertainties around legal tenure of ownership (presumably expropriation without compensation process), labour disturbances, BEE re-transactions and energy supply constraints.  

Support independent journalism
Subscribe to News24 for just R75 per month to read all our investigative and in-depth journalism. You can cancel any time.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
14.59
+0.1%
Rand - Pound
20.14
+0.0%
Rand - Euro
17.19
-0.0%
Rand - Aus dollar
10.68
-0.2%
Rand - Yen
0.13
+0.3%
Gold
1,759.42
+0.3%
Silver
22.86
-0.2%
Palladium
2,049.00
+0.8%
Platinum
960.50
+2.6%
Brent Crude
75.67
+0.3%
Top 40
57,156
+0.1%
All Share
63,430
+0.2%
Resource 10
57,898
-1.5%
Industrial 25
81,383
+1.3%
Financial 15
14,020
+0.6%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Voting Booth
What potential restrictions on unvaccinated South Africans may make the biggest difference to public health, the economy?
Please select an option Oops! Something went wrong, please try again later.
Results
Limited access to restaurants and bars
9% - 41 votes
Limited access to shopping centres
18% - 77 votes
Limited access to live events, including sport matches and festivals
27% - 120 votes
Workplace vaccine mandates
46% - 201 votes
Vote