Is the president disconnected from mining reality?
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Writing in his weekly letter the president pointed out that mining contributes over half of our goods exports, around 10% of GDP and 5% of employment. It is a pillar of our capital goods industry. It is not a coincidence that when global metals prices peak, our economy and job creation also surge he wrote. The sad reality though is that as this commodity cycle has surged ahead our jobs numbers have gone into reverse gear. And some leaders of mining companies, and investors who place capital at risk in these projects bemoan the continued difficult operating environment. Michael Avery talks to Peter Attard-Montalto, head of Capital Markets Research at Intellidex; Paul Miller, director of mining supply sales consultancy AmaranthCX and Matthew Parks - Deputy Parliamentary Coordinator - COSATU about the operating difficulties faced by mining companies
