Building capacity to help Africa trade better

‘SA needs more open dialogue on mines’


‘SA needs more open dialogue on mines’

‘SA needs more open dialogue on mines’

The government needs to focus more on working together with the mining sector in a way that will benefit all people in the country, Randgold Resources CEO Mark Bristow said on Tuesday.

Speaking to 567 CapeTalk/Talk Radio 702’s Bruce Whitfield, he argued mining needs to benefit all who live in the country where it takes place.

“Mines and mineral rights are the nation’s assets and as miners and politicians, neither of us have ownership of them,” Bristow says.

“We are charged with ensuring that they are brought to account in a way that the whole nation benefits, including the investors that risk that capital to unlock it.”

But he says South Africa is merely managing, rather than excelling, in achieving this goal.

“It’s always trying to force people to do things rather than find solutions that are important and constructive.”

Bristow says finding an appropriate balance between the industry, government and labour is the first step that needs to be taken.

“There’s still a lot of work to be done. I think we’re all lecturing each other and in most cases, passing each other like ships in the night instead of engaging with the hard issues and collectively searching for solutions that deliver value to the economy and the wider group of stakeholders.”

At the same time, Bristow says the annual Mining Indaba currently underway in Cape Town should push the debate around the balance of roles between private capital and government.

“I would love to see politicians, particularly the South African government, embrace this and really make it something that would align Africa and attract investment into our continent.”

Listen to the full interview below, where Bristow also discusses the rest of Africa and gives his suggestions on where South Africa should be going with mining.

Click here for a feature on the Investing in African Mining Indaba by EWN

Source: http://ewn.co.za/2014/02/04/SA-needs-more-open-dialogue-on-mines


Email This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel +27 21 880 2010