IIf South Africa wants to achieve its aim towards a low carbon economy that is in line with its climate change commitment in terms of the United Nations Framework Convention on Climate Change, it must strongly pursue carbon offset trading, says Harmke Immink, director of carbon advisory firm Promethium Carbon.
With today’s budget restraints, especially in the mining sector, it seems virtually impossible for information technology (IT) to meet all business demands. Therefore, IT needs to respond rapidly and innovate in order to stay relevant.
South African businesses are confident about their own growth prospects, says Saijil Singh, a lead analyst at Coface, adding that a majority of South African businesses expect their turnover to grow by around 5% in 2015.
The South African mining industry adopted a historical broad-based socio-economic empowerment charter for the South African Mining Industry (Mining Charter) in October 2002.
Tough economic conditions are forcing mines to reduce costs, but compliance burdens are becoming heavier. Something has to give, unless there is more constructive collaboration between the private sector and government.
Mining companies generally make financial provision for rehabilitation by virtue of rehabilitation trusts or financial guarantees through a financial institution or lately, insurance policies. Although a deduction can be claimed for contributions to a rehabilitation trust and the income in such rehabilitation trusts is exempt, cash-strapped mining companies in the current economic environment are finding it tough to contribute the required amount of cash to the rehabilitation trusts.
Botswana’s success as a country, with regard to mining, is largely the result of recognising the delicate balance between encouraging free enterprise and foreign investment, while ensuring that its people benefit from the country’s mineral wealth, believes Terence Dambe (right), managing partner at Minchin & Kelly (Botswana), a member of DLA Piper Africa.
The local mining industry has been besieged by numerous challenges, foremost among them being the wildcat strikes that have been devastating to South Africa’s economy. The question to international mining houses is whether South Africa is still a worthy investment destination. Diversified global mining house Glencore Xstrata seems to think so. In a recent press […]