Anglo Sees Momentum on S. Africa Policy: Africa Mining Update – by Thomas Biesheuvel, Felix Njini and Thomas Wilson (Bloomberg News – February 5, 2018)

Mining executives, investors and government ministers are meeting in drought-hit Cape Town for the African Mining Indaba, the continent’s biggest gathering of one of its most vital industries.

Recent multiyear highs for many commodities have the world’s biggest miners swimming in cash and new demand from electric vehicles mean once-overlooked metals like lithium and cobalt are grabbing the spotlight.

But it’s not all blue skies, as the industry grapples with regulatory changes and uncertainty in countries including the Democratic Republic of Congo and Tanzania, as well as host South Africa.

Here are the latest developments, updated throughout the day. (Time-stamps are local time in Cape Town.)

Anglo Sees Momentum on South African Mining Policy (4:17p.m.)
Leadership changes in the ruling African National Congress make it more likely that mining companies and the government can negotiate an agreement on mining policy, said Norman Mbazima, Anglo American Plc’s deputy chairman for South Africa.

“We have got some momentum that has started happening, we are hoping that momentum will be maintained,” he said in an interview on the sidelines of the conference.

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