Data provided by McGregor BFA
All data is delayed
Loading...
See More

ANC mining ideas 'not viable'

Jul 25 2012 13:28 Sapa

Related Articles

Mining heads to take on safety

Anglo ordered to disclose documents

DA: ANC wrong on mining

Firms kept in dark over mines grab

Weak mining weighs on Gauteng economy

Mining industry accused of blackmail

 

Johannesburg - It is unlikely that many of the ANC's policy proposals on state intervention in the mining sector (Sims) will come to fruition, a business leader said on Wednesday.

"Reality and contradictions will get in the way of the Sims proposals," said Michael Spicer, vice-president of Business Leadership SA.

"I very much doubt if we will see many of those (come to fruition), if any at all, because the importance of a growing industry will become clearer as the debate proceeds."

Spicer was speaking in Johannesburg at a discussion hosted by the FW de Klerk Foundation on the recent African National Congress policy conference.

He said the fundamental flaw of some of the proposals was an assumption that the mining industry "continues on autopilot" whatever interventions occurred.

There was almost no reference to growing the mining industry.

An alternative vision would be to ask what it would take to turn South Africa into the number one mining country in the world.

Spicer said many facts and figures of the contribution of the mining industry were simply not understood.

It was incumbent on the mining industry to do a much better lobbying and communication job, he said.

Sims proposals, to be further discussed at the ANC's conference in Mangaung in December, include a super tax on mining profits, and merging a number of government departments to form a super-economic ministry.

 
anc  |  business leadership sa  |  mining
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
32 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

Land reform process lawful - Zuma

The land reform process is being done according to the law and the Constitution, says President Jacob Zuma.

 
 

Latest elections multimedia

11 Julius Malema quotes you'll never forget
DA won't get 30% - Zille
The EFF's ad was banned, see why
Why Jack Parow wants you to vote on 7 May

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...