Africa Mining Indaba: ‘Let’s talk,’ Ramaphosa tells producers
Executives, investors and government officials meet in Cape Town this week at the African Mining Indaba, the continent’s biggest gathering of one of its most essential industries.
While the sharp decline in crude prices has saved crude consuming nations hundreds of billions of dollars, the loss in revenues has caused crude exporting countries intense economic and financial pain.
"There'll always be investors wanting to get in early, but the junior market would only really start to benefit once majors instil investor confidence."
The traditional owners’ opposition could mean that Energy Resources of Australia (ERA), a subsidiary of Rio Tinto, has to write down the value of its assets.
The dramatic fall in overall market capitalization reflects, according to PwC, the impact of the ongoing commodities rout and other challenges the local industry has faced in the last year.