SA mining is losing battle to raise capital

by Allan Seccombe –

SA was losing the global battle for capital it needed to build new projects and was lagging far behind its international peers, Jim Rutherford, a nonexecutive director at Anglo American and former mining analyst with Capital Group, said.

SA’s market capitalisation as a percentage of the global mining industry has slumped over 25 years to barely 5% from 39%, with the rise of other mining jurisdictions in Latin America and Asia. Mining inflation in SA or the cost of mining, including labour and electricity prices, was 7% in the first half of this year and was more than double that of Australia and Chile.

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