African Rainbow Minerals confident of new dawn in mining
African Rainbow Minerals is confident about the prospects for the mining sector, this as the government is trying to position mining into a sunrise sector even though many investors have turned their back on it due to paltry profits.
Thu, 23 May 2019 11:22:37 GMT
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AI Generated Summary
- The importance of collaboration and alignment among stakeholders in driving growth and inclusivity in the mining sector
- The need for pragmatism in the face of global challenges such as the trade war rhetoric and the slowdown in the Chinese economy
- The potential for green energy and innovation to propel South Africa's mining industry forward
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.
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