EDITORIAL: SA must fix its systems to mine potential

SA’s policymakers have long had a bad habit of focusing on the economy we wish we could be rather than on making the most of the one we are.

The resulting sharp increase in miners’ profits hugely boosted the government’s tax take — PWC’s latest mining survey finds mining companies will add an estimated R263.7bn to tax revenue this year, up 42% on 2020.

But all of that is more reason to ensure that SA acts now to leverage the mining boom to ensure more long-lasting benefits. Disturbingly, the PWC survey shows that capital expenditure in mining has hardly risen, and at an estimated R55bn this year is way lower than the R70bn of a decade ago.

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