South African mining must be made globally competitive – Motsepe – by Martin Creamer (MiningWeekly.com – September 7, 2017)

http://www.miningweekly.com/

JOHANNESBURG (miningweekly.com) – All South Africans need to work together to ensure that the South African mining industry is a globally competitive investment destination, said African Rainbow Minerals (ARM) executive chairperson Patrice Motsepe on Thursday, when he declared the black-controlled company’s highest-ever dividend.

“We have a lot to be proud of and together we’ll make this industry the globally competitive industry that we want it to be,” Motsepe said at the company’s presentation of 204%-higher headline earnings to R3 196-million in the 12 months to June 30.

“As an industry, mining does not always get the respect and recognition that it deserves. A huge amount of truly world-class work is being done at huge sacrifice,” he said after declaring ARM’s 189%-higher dividend of 650c a share.

“We’re very proud that this is the highest dividend that we’ve paid because, part of being globally competitive is that you have to be a regular dividend payer.

“Of course, our share price has to consistently be competitive and increase, but we are employees of the shareholders. We have a multi-stakeholder obligation, but at the centre of this multi-stakeholder obligation are our shareholders and shareholders say you have to consistently pay dividends.

For the rest of this article: http://www.miningweekly.com/article/south-african-mining-must-be-made-globally-competitive-motsepe-2017-09-07/rep_id:3650

 

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