Junior miner warns of three evil monsters in the mining sector - CNBC Africa

Junior miner warns of three evil monsters in the mining sector

Mining

by Trust Matsilele 0

Junior miner warns of three evil monsters in the mining sector. PHOTO: Wikipedia

“The three evil monsters have taken root in South Africa and these are extortion, greed and entitlement,” said Humphrey Mathe, chief executive of Tranter Resources.

Mathe made the comments addressing delegates attending the second edition of the Junior Indaba taking place in Johannesburg.

Junior miners, in what has been described as one of the toughest years the industry will ever face, are exploring various opportunities.

Mathe called for a more responsive action to ensure everyone receives a piece in South Africa’s bigger pie, and also in the region.

“It is imperative to have inclusive institutions which create economic expansion and more widely held wealth," he said.

Mathe decried that as South Africa dithers at the brink of a catastrophic downgrade, junior miners like him could suffer due to error of commissions and/or omissions.

Mathe said funding was also a challenge for junior miners in South Africa and the rest of the region as well.

“Currently there are very few people doing exploration and some junior miners are told that they explorations are not fundable,” he said.

“If you have political backing you can get funding but it is not all gloom and doom.”

Some of the guests who addressed the Indaba are the deputy minister, Department of Mineral Resources, Godfrey Oliphant and AU commission chair, Nkosazana Dlamini-Zuma.



 

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