Globally competitive mining legislation is critically important for South Africa, African Rainbow Minerals (ARM) executive chairperson Patrice Motsepe said on Thursday when he gave his full backing to the “once empowered, always empowered” principle currently the subject of negotiation between the Chamber of Mines and the Department of Mineral Resources. Speaking at the presentation of ARM’s basic earnings loss of R565-million in the 12 months to June 30, the head of the diversified multi-commodity company urged South Africans not to divorce themselves from the regulatory, legal, fiscal and monetary frameworks of the country and spoke of the need for mining companies to involve themselves in the laws and regulations passed that had an impact on mining and the country’s economy as a whole. (Also watch attached Creamer Media video).
