Why downgrade and JZ’s Cabinet reshuffle will bash mining (employer of 493 000)

Mining is a risky business that needs long-term investment.

Henk Langenhoven, Chamber of Mines South Africa

S&P’s downgrade of South Africa’s sovereign credit rating and President Jacob Zuma’s midnight Cabinet reshuffle is bad for the mining sector, employer of 493 000 people.

So said Henk Langenhoven, Chief Economist at Chamber of Mines South Africa, in an interview by Arabile Gumede (in for Bruce Whitfield on The Money Show).

Langenhoven discussed five reasons why he is worried.

For more detail; listen to the interview in the audio below.

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Article brought to us by Old Mutual.

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