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Undermined; Mining in South Africa.
- Article from:
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The Economist (US)
- Article date:
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November 18, 2006
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Copyright informationCOPYRIGHT 2006 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Tangled up in red tape
Regulatory uncertainty has harmed South Africa's mining industry
THE past five years have been a good time to be in the mining business. Commodity prices have boomed, boosted by healthy economic growth and China's appetite for minerals. According to PricewaterhouseCoopers, a consultancy, the world's big mining companies had a spectacular year in 2005, with investment increasing by about 30% and profits by almost 60%. Except, that is, in South Africa.
According to figures published last week by the South African Chamber of Mines, investment in the country's mining sector declined by almost a third in 2004 and 2005. South Africa's mineral ...
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