Advertisements

18% mining production drop as ANC continues to bury its head in the sand – DA

DA

Sponsored by Nablie

Production in the mining sector has plummeted by 18.1 per cent in the first quarter of 2016. This is the third quarter that saw a drop in mining production out of the last four and it is the biggest drop by far.

The drop in production evidences a sector in crisis and explains the jobs bloodbath which is currently ongoing in the sector. It is also a herald of further job losses as well as potential disinvestment and recession.

The ANC must get its head out of the sand and recognise thereal cause of the slow-motion collapse of the mining sector. It’s not international trading conditions alone but also wads of investment unfriendly regulations and corruption in the mining space that adversely affect this sector and invariably leads to the shedding of jobs.

A drastic change in approach is urgently required to prevent the impending jobs and investment fallout. Government could start by withdrawing the ill-conceived MPRDA Bill, which continues to languish in legislative doldrums, as well as the new draft Mining Charter which blindsided the industry earlier this year.

Issued by DA

Advertisements
Leave a comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Advertisements
%d bloggers like this: