Loading ...A third of S.Africa miners say no new investments in 2018 – survey
A third of South Africa’s largest mining companies are not considering any new investments in the sector in 2018 while one of them may even decide to pull out of the country, according to an industry survey published by the Chamber of Mines on Monday.
The mining sector in the world’s top platinum producer has in recent years been laid low by soaring wage and power costs, depressed prices, violent social and labour unrest as well as policy uncertainties.
Underscoring the tough environment, the industry has shed 70,000 jobs in the past five years, with around 465,000 currently employed.
The survey of 16 companies accounting for more than 80 percent of national mining output included all of the big players such as Anglo American and Sibanye-Stillwater .
“Some specific company responses were particularly sobering,” the chamber said in a presentation at the Africa mining conference in Cape Town.
“Five companies responded that they were not considering any potential new investments, with one company contemplating from divesting from South Africa entirely – a decision which will be taken in 2018, if the situation does not improve,” it said.
cont. http://www.mining.com/web/third-s-africa-miners-say-no-new-investments-2018-survey/
Oh, but I remember almost everyone on ZH parroting how the central bankers were afraid to raise rates.
That was the narrative… “Ha ha! They’ll never raise rates!”
The level of naivety would be cute if it wasn’t directed at something so evil.
THE TWO PRIMARY REASONS FOR THE BUBBLE ARE 1. TO CREATE AN INCREASE SUPPLY OF TANGIBLE ASSETS TO BE STOLEN DURING THE EVENTUAL DEBT-MONEY BUBBLE BUST, AND 2. TO CREATE AND MANAGE THE DEBT-MONEY BUBBLE BUST IN ORDER TO STEAL A MAXIMAL AMOUNT OF TANGIBLE GOODS.
THE DEBT-MONEY BUBBLE BUST **IS A FEATURE OF THE SYSTEM, NOT A BUG!**
“This Act establishes the most gigantic trust on earth.…When the President signs this Act, the invisible government by the Money Power, proven to exist by the Money Trust Investigation, will be legalized.…The money power overawes the legislative and executive forces of the Nation and of the States. I have seen these forces exerted during the different stages of this bill.…”
~Congressman Charles A. Lindbergh, referring to the act which established the Federal Reserve. Congressional Record, Vol. 51, p. 1446. December 22, 1913.
“The new law will create inflation whenever the trusts want inflation. From now on depressions will be scientifically created.”
~Congressman Charles A. Lindbergh, after the passage of the Federal Reserve act 1913.
“The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks.”
~Lord Acton
“When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes. Money has no motherland; financiers are without patriotism and without decency; their sole object is gain.”
~Napoleon Bonaparte
“Let the American people go into their debt-funding schemes and banking systems, and from that hour their boasted independence will be a mere phantom.”
~William Pitt, (referring to the inauguration of the first National Bank in the United States under Alexander Hamilton).
How To Be a Crook
https://www.youtube.com/watch?v=2oHbwdNcHbc
Poverty – Debt Is Not a Choice
https://www.youtube.com/watch?v=t7BTTB4tiEU
Renaissance 2.0 The Rise of [Debt-Money Monopolist] Financial Empire
https://www.youtube.com/watch?v=96c2wXcNA7A