MINERS AND STATE NEED TO SHOW REAL LEADERSHIP Featured
MOUNTING costs, falling commodity prices, regulatory uncertainty, unreliable energy and weak infrastructure are throttling the mining industry and threatening its long-term viability.
The failure of SA’s mining sector will have a snowball effect on the rest of the economy. For a start, the banking sector will feel the pinch. Engineering services and quantity surveyors working on project development will be squeezed. Banks provide finance to many entrepreneurs who have contracts with mining houses to deploy capital equipment. Their contracts may face termination, with default on debt payments following.