South Africa is missing out on a commodities boom.
So said Clyde Russell (Asia Commodities and Energy Columnist at Thomson Reuters) in an interview by The Money Show’s Bruce Whitfield.
Russell gave the following five reasons why we’re not benefitting:
The recent Mining Indaba showed miners and the government talking past each other. As long as this continues; new investment will be scarce.
Government has fundamentally contradictory aims. It wants jobs and investment, but it also wants conditions that make getting investment really difficult.
The current situation isn’t working. There are, however, things that can be done such as setting up a sovereign wealth fund using mining royalties, and using that to invest in mining companies.
Infrastructure needs attention; especially rail.
- South Africa needs to think both small and big and see exactly where it can meet the commodity needs of China and India.
For more detail; listen to the interview in the audio below.
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