Group Economiist
Saniam
December 10, 2013
...To my mind, the main reason for the improvement in South Africa’s growth performance after 1994 lies in the lifting of economic sanctions and the subsequent reintegration of the South African economy with the global economy. Although the lifting of trade sanctions was important (the volume of exports plus imports did increase by 65% from 1991 to 1998), with an accompanying improvement in productivity as a result of greater global competition, it was the lifting of specifically financial sanctions that made the critical difference....
Of course the lifting of sanctions improved the economy, but, there is also a larger number of people with money to spend. So, the economic base of Africa is going with the freedom and new government the people achieved.
LIONEL FAULL
The Constitutional Court (click here) has settled one of South Africa's most complex, protracted and bitter mining rights disputes in favour of Kumba subsidiary, Sishen Iron Ore Company (Sioc).
A two-part judgment delivered by Justice Chris Jafta and Deputy Chief Justice Dikgang Moseneke found that Sioc "is the only party competent to apply for and be granted a mining right" to a disputed 21.4% of Sishen, one of the biggest opencast iron ore mines in the world situated in the Northern Cape.
The judgment dealt blows of varying severity to each of Sioc's adversaries – giant steel manufacturer Arcelor Mittal South Africa (Amsa), politically-connected Imperial Crown Trading 289 (ICT) and the department of mineral resources.
Before the new Mineral and Petroleum Resources Development Act came into play, Sioc held a mining right under the old law which entitled it to 78.6% of Sishen. Amsa held a separate, or "undivided", old order mining right to the remaining 21.4%. Practically speaking, Sioc mined the iron ore and supplied it to Amsa at a negotiated discount....
