JOHANNESBURG (miningweekly.com) – The response of South Africa’s ruling African National Congress (ANC) party at its recent policy conference, that further discussion is required on the controversial Mining Charter Three, to ensure that investment and employment levels are not negatively affected, has been described as “very constructive” by Anglo American CEO Mark Cutifani.
Responding to journalists’ questions following Anglo’s posting of strong half-year earnings that hit the $1.5-billion mark and cash flow that soared to $2.7-billion, Cutifani said Anglo was supportive of the legal course of action being followed by the Chamber of Mines, with the ultimate objective being arriving at a solution that was practically implementable and that preserved and enhanced investment in what is a critically important South African industry.
Cutifani cautioned that in the absence of new investment, South Africa would fail to deliver the economic growth required to create greater levels of employment and socioeconomic upliftment for the benefit of all South Africans and reiterated Anglo’s commitment to meeting South Africa’s transformation objectives.
He condemned Mining Charter Three as a document that “just doesn’t work on any level. It’s confused and it’s confusing. We’ve got to go back to square one”, he said during a conference call in which Creamer Media’s Mining Weekly Online participated.
He singled out the response of the ANC as being “very constructive in suggesting that we all get back to the table and start again”.
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