South African mining executives, investors and officials gather in the nation’s economic hub for the Joburg Indaba conference, a week after Mineral Resources Minister Gwede Mantashe published the government’s new Mining Charter.
It’s been a tough couple of years for South African mining, from regulatory uncertainty and legal fights with the government, to thousands of job cuts announced across the industry. National gold production has declined for 10 straight months.
Here are the latest developments, updated throughout the day. (Time-stamps are local time in Johannesburg.)
Platinum Mea Culpa (5 p.m.)
Platinum miners hurt themselves over the past decade by failing to notice and respond quickly enough to dwindling demand for the metal, according to the head of the world’s top producer. Continue Reading →