Being over here on an extended trip to Cape Town means being in...

Being over here on an extended trip to Cape Town means being in the middle of a country that is amongst many other things:
A) Facing a massive (50%) unemployment rate that shows every sign of increasing and making a mockery of ANC promises over past 2 years.
B) Country has millions of refugees crossing illegally into country esp from Zimbabwe, Congo and Malawi. Mozambique also an issue.

The ONLY hope for country is for ANC socialistic govt to forget left-wing properganda/retoric and make it easier for pvt enterprise to invest and make reasonable margins. So far govt has done the opposite. But crisis looms and today's budget announcementgives a glimmer of hope that ANC realise without supporting miners, they have zero chance of containing freefall in employment rate.

The infrastructure push(see below) again lists coal as #1 priority. Note the 'Limpopo' province borders the Eastern edge of Botswana... not far from CCC prospects. Just maaaybe ANC will back-off and avoid serious civil unrest. Has 12 months to turn things around... not a moment longer imo.



By: Natasha Odendaal
22nd February 2012
Updated 3 hours ago


PRETORIA (miningweekly.com) – Finance Minister Pravin Gordhan is establishing a venture capital incentive for junior mining companies to strengthen growth in the South African mining sector.

The fund would, through the International Finance Corporation, make R24.6-million a year available to emerging and developing mining companies in an effort to promote small businesses in mining.

This formed part of government’s broad support to the business sector to grow the South African economy, increase the rate of job creation and reduce poverty. It also supported government’s examinations of wider interventions to lower the cost of doing business.

President Jacob Zuma recently promised to keep the country’s mining sector “globally competitive”, pledging to upgrade rail and ports to increase the shipping of commodities.

Gordhan, who unveiled South Africa’s 2012 Budget in Parliament on Wednesday, said large-scale investments in public infrastructure, together with private investment, would expand production and export capacity for coal, platinum, palladium, chrome and other minerals from regions such as Limpopo.

Freight logistics group Transnet was planning to invest R300-billion over the next seven years, with a focus on the freight rail network, large capacity upgrades on the iron-ore and coal export lines, acquiring modern rolling stock and refurbishing existing infrastructure.

The Saldanha Port’s handling capacity would be expanded to accommodate increased iron-ore throughput, while investments in the Richards Bay port would increase bulk export and cargo capacity.

The Minister pointed out that, as a major mining economy, South Africa should be benefiting more from the continued buoyancy in commodity markets internationally. However, while the country has sustained growth on the back of high commodity prices, industrial action and safety-related stoppages disrupted production.

To this end, R154.5-million was allocated to the promotion of mine safety and health. This included occupational health and safety (OHS) inspections and mine audits and implementing OHS strategies and enforcement guidelines to reduce injuries, fatalities and dangerous incidents by 20% a year.

Further, the government has allocated R595.6-million to mineral policy and promotion to encourage investment in the mining sector, as well as green and sustainable mining.

Meanwhile, as part of government’s economic and support package, which promoted rapid recovery and job creation, R350-million was allocated to the Council for Geoscience for laboratory equipment and facilities upgrading, as well as to the Council for Mineral Technology.

Government also put aside R433-million for short-term interventions to tackle acid mine drainage and has allocated R139-million to the rehabilitation of 37 ownerless and derelict mines.


Edited by: Creamer Media Reporter