{"id":7820,"date":"2012-02-09T13:51:02","date_gmt":"2012-02-09T11:51:02","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/south-africa-unloved-at-its-own-mining-party\/"},"modified":"2012-02-09T13:51:02","modified_gmt":"2012-02-09T11:51:02","slug":"south-africa-unloved-at-its-own-mining-party","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/south-africa-unloved-at-its-own-mining-party\/","title":{"rendered":"South Africa unloved at its own mining party"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* South Africa mining no longer the draw at Indaba gathering<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Labour, power costs, political risk curb enthusiasm<\/p>\n<p><span><\/span><\/p>\n<p>* Asia, South America, elsewhere in Africa tempt investors<br \/>\nmore<\/p>\n<p><span><\/span><\/p>\n<p>By Ed Stoddard<\/p>\n<p><span><\/span><\/p>\n<p>CAPE TOWN, Feb 9 (Reuters) &#8211; The industry executives<br \/>\nwho pile into Cape Town every year for the annual African mining<br \/>\nconference love the sun, wine and stunning mountain backdrop the<br \/>\nvenue provides.<\/p>\n<p><span><\/span><\/p>\n<p>But South Africa&#8217;s once towering mining industry is no draw<br \/>\nand investors flocking to the &#8220;Indaba&#8221;, as it is called, have<br \/>\ntheir sights set on alluring prizes elsewhere on the continent.<\/p>\n<p><span><\/span><\/p>\n<p>Gold and diamonds built Africa&#8217;s largest economy, which also<br \/>\nboasts 80 percent of the world&#8217;s platinum reserves, but outside<br \/>\ninvestors remain wary of sinking money into an industry that<br \/>\nappears in a state of terminal decline.<\/p>\n<p><span><\/span><\/p>\n<p>Soaring labour and power costs which are not matched by<br \/>\nproductivity gains, not to mention the world&#8217;s deepest shafts<br \/>\nfor those mining gold, are all making South Africa a treacherous<br \/>\nplace for miners who are finding less headaches elsewhere.<\/p>\n<p><span><\/span><\/p>\n<p>Political risk and policy uncertainty have also dampened the<br \/>\nenthusiasm of an industry that must invest millions and even<br \/>\nbillions to build mines before it can recoup any profit.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* South Africa mining no longer the draw at Indaba gathering * Labour, power costs, political risk curb enthusiasm * Asia, South America, elsewhere in Africa tempt investors more By Ed Stoddard CAPE TOWN, Feb 9 (Reuters) &#8211; The industry executives who pile into Cape Town every year for the annual African mining conference love [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-7820","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7820","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=7820"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7820\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}