Market slightly wary of updated minerals act

摘要

There can be no doubt that 2007's Mining Indaba conference in Cape Town will focus on the performance of South Africa's resources sector over the past year. During the 2006 three day chinwag it was apparent the umpire was still a little undecided on whether the legislative changes to the country's mining laws put in place by the Thabo Mbeki-led Government in May 2004 had, in fact, been bad for foreign investment. Indaba regular and head of global mining for the London-based Barclays Capital, Gerard Holden, indicated the bank was optimistic the (then) coming 12 months would be bullish, although he lamented the fact South Africa's capital markets were not participating as fully as they might in the current boom.