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Mining Law Review in South Africa Calms Industry

By Joel ScanlonAug 22 2010

The proposed mining law review in South Africa may help calm down the fears of investors and the worries of mining companies. Rumours of mining concession rights battles and nationalization of mines have been doing the rounds all of this year.

The youth wing of the African National Congress (ANC) has been demanding that the country’s citizens gain more from the country’s mineral resources. Efforts have been made to compel the sale of stakes in mines to black South Africans.

The confidence level of many mining companies has been shaken due to this. In fact foreign investment is being stalled on many projects. So it comes as a boon that the South African government is talking about the future of the mining in clear terms.

Mining industry has seen support from Mineral Minister Susan Shabang but the popularity of the ANC cause has undermined all her efforts so far. The new six month moratorium may be able to finally make a difference.

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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