African Rainbow Minerals confident of new dawn in mining

South Africa's mining industry has faced its fair share of challenges over the years, with many investors turning their backs on the sector due to low profits. However, African Rainbow Minerals, chaired by South African billionaire Patrice Motsepe, remains confident about the future of the mining sector in the country. In a recent interview with CNBC Africa, Mike Schmidt, the CEO of African Rainbow Minerals, expressed optimism about the prospects for the industry, highlighting the need for collaboration and alignment among stakeholders to drive growth and inclusivity. Schmidt emphasized the importance of creating value for the economy and shareholders, while also acknowledging the need to be pragmatic in the face of global factors such as the trade war rhetoric and the slowdown in the Chinese economy. Despite these challenges, Schmidt remains bullish on South Africa's mining potential, pointing to the country's abundance of resources and skilled workforce as key advantages. As the government works to position mining as a sunrise sector, Schmidt believes that a collective effort towards green energy and innovation will help propel the industry forward.