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South Africa’s mining sector is a key player on the global stage, holding some of the world’s largest gold reserves and leading in the production of platinum group metals.The country recently experienced a shift in its political landscape, resulting in a new Government of National Unity . Notably, this was the first time the African National Congress
According to mining analyst Peter Major, the mining sector has faced significant challenges since the ANC took over the government, particularly with the implementation of the“It was able to survive the last twenty years because we were in a supercycle of metal prices. Had it not been for that, I really don’t think our mining sector would be even a quarter of today’s size. But because we’ve had twenty years of great metal prices, it was able to sustain itself but not grow.
Major believes there is potential for the government and the mining industry to collaborate on new mining regulations.Commodities giant was fined by Swiss authorities for not preventing a business partner from bribing a Congolese official in 2011.The miner is in talks with banks to gauge investor appetite for refinancing a large part of $3 billion of bonds maturing between 2026 and 2028.
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