Brought to its knees by a market downturn that has lasted close on a decade, a cash-flush mining industry is now on the verge of cranking up investments in the parched sector - if policy certainty becomes the new normal. There's "still a cautious tone", Anglo American CEO Mark Cutifani told Business Times. "Political instability around the globe made people a little wary. Still not an easy world. "I don't think anybody is going nuts by any stretch of imagination." Improved commodity markets have finally landed on the balance sheets of the country's leading miners, with Anglo American Platinum, the world's biggest platinum miner, paying its first dividend in six years. From a cash-preservation position, the sector has tentatively moved to a reinvestment phase and for some, the exploration stage of the cycle. South Africa's mining industry is no longer the bedrock of the economy, but improved sentiment in the sector feeds into other industries such as construction and services that ha...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.