As the biggest slice of mining revenue goes to government, fund managers were scratching their heads on Thursday over why the South Africa government would in those circumstances cause such woeful damage to the industry through legislative uncertainty and the imposition of incremental burdens. Speaking on the last day of the Joburg Indaba, a panel chaired by Rand Merchant Bank business development director Henk de Hoop and made up of Allan Gray portfolio manager Sandy McGregor, Absa asset management head Stephen Arthur, Pan African CEO Cobus Loots and Petra Diamonds CEO Johan Dippenaar spoke on the buy side’s view of optimal capital allocation in the context of the current investment cycle and stakeholder demands.
Source: www.engineeringnews.co.za
Govt should be bending over backwards as mining’s biggest beneficiary, say fund managers
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