Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
JOHANNESBURG, Oct 3 (Reuters) – South Africa’s mines minister said on Wednesday the government was considering a sovereign wealth fund but is looking for a way to fund it without harming the mining industry.
“Normally it is funded from the primary extractive sector but we must find a way of doing it without hurting the sector,” Minerals Resources Minister Gwede Mantashe told journalists on the sidelines of the Jo’burg Indaba mining conference.
(By Tanisha Heiberg; Editing by Ed Stoddard)
