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Public Hearings on Mineral and Petroleum Resources Development Amendment Bill

Sandy McGregor

18 September 2013

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• The South African economy is driven by the commodity prices

• The commodities boom of the past decade is ending

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All Commodity Index ($)

Source: Igraph, Bill (SG 160913m)

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South African Exports ($m per year)

Source: Igraph, Bill (SG 160913m)

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• Profitability of the mining industry has declined significantly

• Mining companies are cutting back on capital spending

• In this environment it is important to craft investment friendly legislation