Hedge funds slash bullish wagers on gold over Trump election win
Hedge funds and other large speculators boosted net-long positions by 11% to 197,362 as of Nov. 12, the lowest in 14 weeks.
South Africa’s Mineral Resources Minister Susan Shabangu is conducting road shows in Australia and Britain to soothe investors’ fears about nationalization and drum up investment and on Wednesday according to TimesLive told a mining conference:
“I am fully aware that my own repeated assurances, as well as numerous statements by government and our president, have not yet removed the investor concerns in this regard. No matter how often our government states the obvious, that nationalisation is neither South African government policy, nor is it ANC policy, the controversies and potential fears do not seem to disappear.”
Apart from the ruling party’s youth arm calling for the state to seize the country’s mines, banks and farm land, soaring electricity and labour costs, power shortages and rail and port constraints are also hampering mining investment in the country.
MINING.com reported in October South Africa’s gold mining industry is fighting for its future because gold deposits are too deep – AngloGold Ashanti’s Mponeng mine already extends about 4 km (2.5 miles) underground – to be mined profitably. It could could mean the end of the industry within a decade without a technology breakthrough.
5 Comments
Jorge Costas
Mining is not child’s play. Each day that Julius Malema is allowed to talk trash is a day closer to the abyss. It is another day that the seed of greed and terror is allowed to germinate. the SA government is doing nothing to quell investor’s fears. It is going to take a lot more than a sweet talking mama on a shopping tour.
Horpyniuk
I have been invested with Homeland Energy; HEG, for quite some time now and I am concerned about the SLOW development with this coal company. Is this the way of business in South Africa?
Bill
Aroan
Maybe the SA government should do some promise to keep the investors. Only good investment climate and favorable policy can adopt investors. After all, what investors are looking for is profit.As one professional iron ore crushing equipments manufacturere, we do have many customers would like to invest in Africa, so it is oppertunity.
sally liu
South Africa is rich in varies minerals. mining nationalization will help the unified management, but to some extent, it also limits mining investment and development. Government can control both the free development and adjustment.
Bill
I keep on reading about the need for thermal coal in Africa, Europe, China and India . It seems that the Richards Bay terminal, in South Africa, can handle a higher volume for export purposes but little is written about what is happening. I guess that I need to learn how the coal market works in other countries.