Anglo American mining could be double its size

Date: Mar 13, 2018
The mining industry could have been twice the size it is today if it wasn’t for the uncertainty the country had experienced over the past five years, Anglo American CEO Mark Cutifani said this week.

At a business conference organised by Bloomberg in Cape Town, he said that the sector was positive about the new government and the appointment of Gwede Mantashe as minister of mineral resources.

“We are in a new place and we’re very excited,” he said.

Cutifani said they were also optimistic that the change in leadership in the country would bring policy certainty and a clear long-term plan that was needed for the mining sector to survive.

Stephen Koseff, the CEO of Investec, said South Africa had come a long way since President Cyril Ramaphosa was elected as the leader of the ANC in December.

However, he said that greater flexibility was required when it came to the country’s labour laws.

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