Serial ANC failure keeps mining in the bottom ranks
7 May 2023
The world’s most authoritative measure of investment attractiveness in mining has once again put South Africa near the bottom of its rankings. The Fraser Institute of Canada measures investor perceptions about mining countries every year. This year’s ranking puts South Africa in the bottom ten of 62 countries surveyed as possible places to make mining investments.
For the last 4 years South Africa has performed very poorly in the Fraser rankings. Investors are reported to have said they’re concerned about poor mining infrastructure, bad regulation and onerous ownership requirements.
For the last ten years the DA has warned about the consequences of BEE and a corrupt, incompetent, and secretive licensing process. Each time ANC ministers, more latterly Gwede Mantashe have dismissed these concerns. Yet all Mantashe’s boasts about improved performance have resulted in failure.
After he was appointed in 2018, Mantashe said it would be a priority to raise South Africa’s place in the Fraser rankings. Instead, the country’s rating has fallen and it continues to languish near the bottom.