SOUTH Africa's institutions provide protection for foreign investors in the resources sector, the minister of mineral resources told mining executives in Australia.
Minister Susan Shabangu was seeking to reassure investors of the stability of the sector after a recent wave of labour unrest and deadly violence claimed 44 lives and shut ore output at Lonmin's platinum mine at Marikana. Lonmin is the world's third-largest producer of platinum
"We urge our investors, incumbent and prospective, to take comfort in the solid foundation set by our Constitution, government, legal and civil institutions," Shabangu told mining executives and African officials in Perth.
"The president and people of South Africa are determined to isolate bad elements in our society that are seemingly committed to undermine the democratic gains of the country to date," she added.
Lonmin said earlier this week that only 8% of workers had reported for duty at its operations as it struggles to restart shafts halted for more than two weeks.
Shabangu also said the question of nationalisation in the country' s mining sector would be put to bed at the end of the year.
The ANC had been expected to rule on a drive to nationalise the country's mines earlier this year. But the policy still remains unclear although "blanket nationalisation" and a windfall tax appear to be off the table.
"That debate will reach its conclusions within the ruling party in 2012," Shabangu said.
Shabangu woos Aussie investors
SOUTH Africa's institutions provide protection for foreign investors in the resources sector, the minister of mineral resources told mining executives in Australia.
Minister Susan Shabangu was seeking to reassure investors of the stability of the sector after a recent wave of labour unrest and deadly violence claimed 44 lives and shut ore output at Lonmin's platinum mine at Marikana. Lonmin is the world's third-largest producer of platinum
"We urge our investors, incumbent and prospective, to take comfort in the solid foundation set by our Constitution, government, legal and civil institutions," Shabangu told mining executives and African officials in Perth.
"The president and people of South Africa are determined to isolate bad elements in our society that are seemingly committed to undermine the democratic gains of the country to date," she added.
Lonmin said earlier this week that only 8% of workers had reported for duty at its operations as it struggles to restart shafts halted for more than two weeks.
Shabangu also said the question of nationalisation in the country' s mining sector would be put to bed at the end of the year.
The ANC had been expected to rule on a drive to nationalise the country's mines earlier this year. But the policy still remains unclear although "blanket nationalisation" and a windfall tax appear to be off the table.
"That debate will reach its conclusions within the ruling party in 2012," Shabangu said.
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