Welcome to Creamer Media’s Resources Watch, a weekly video round-up of the events and people making and shaping the news in the mining industry.
This week:
Black junior Wescoal set to soar
The Revolutionary Mining Charter is irrational and divisive
And, Illegal mining a substantial burden on South African economy, warns Sibanye
Stripping out Wescoal’s once-off nonrecurring costs paints a pretty picture of the performance of this black-controlled coal-mining and coal-marketing junior, which has declared a dividend payout of R22-million compared with R10-million last year.
Wescoal CEO Waheed Sulaiman
On June 15, 2017, the Mineral Resources Minister announced the birth of the Reviewed Broad-Based Economic Empowerment Charter for the Mining Industry. Mining lawyer Jacinto Rocha says that the Minister failed to notice that due to complications during the birth process, the Mining Charter was born dead.
Mining lawyer Jacinto Rocha
Illegal mining costs South Africa an estimated R20-billion a year in lost mineral sales, taxes and royalties.
Sibanye protection services senior VP Nash Lutchman
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Edited by: Creamer Media Reporter
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