[LISTEN] PeterMajor from Mergence Corporate Solutions reviews the mining sector for 2021 with FifiPeters on SAfmRadio MarketUpdate. Click here to listen to the full interview: Moneyweb Mining SouthAfrica
Let’s get to that mining conversation. This follows the latest deal coming out of the platinum mining space, in which Anglo American Platinum will sell its Bokoni platinum mine to African Rainbow Minerals [ARM] in a share-and-purchase agreement deal valued at around R3.5 billion. This is the latest deal happening in the sector. To speak more about it, as well as to review some of the main happenings in the mining industry for 2021, I’m joined by Peter Major from Mergence Corporate Solutions.
No, I think there are going to be more. I do think commodity prices are going to continue to fall in 2022 but, boy, they are holding up well. We’ve also seen a rotation. If you remember a few years back, when oil was $100/barrel, oil hasn’t even come close to a hundred dollars now. But natural gas has gone berserk; natural gas is up 600% this year, and we are seeing close to record-high coal prices, and close to record-high base metal prices.
For the longest of times one of the policy headaches that prevented the mining industry from doing a lot more of that – putting money in the ground – was the debate over empowerment and whether ‘once empowered’ meant ‘always empowered’. This is something that has recently been cleared where legally I believe government has said it will no longer challenge [those in the] mining industry that have done empowerment deals in the past and have met their quota.
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