MINING INSIGHTS | 10 OCT 2019

Africa is a vital part of
Australia’s mining industry

Absa | Corporate and Investment Banking > Insights and Events > Africa is a vital part of Australia’s mining industry
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A look at how South Africa can regain its mining status

In this instalment of the 2019 Absa Insights Series, Absa’s Shirley Webber, Head: Natural Resources and Energy, Absa CIB, chats to Tawanda Madondo, Senior Coverage Banker: Natural Resources, Absa CIB, about why Australian mining houses view Africa as an important element in their portfolios.

Video highlights:

  • Australian mining portfolios include African commodities such as iron ore, mineral sands and the newer commodities, graphite and lithium, even though banks aren’t necessarily comfortable with these commodities.
  • Australia is positive about South Africa, but political stability, rules, regulations, and taxes have an impact on the country’s overall rating.
  • Unfortunately, the International Monetary Fund (IMF) is not positive with regards to South Africa, and this has a ripple effect on Moody’s and S&P’s ratings.
  • Government therefore has a responsibility to create the best investment atmosphere for foreign and local investors.

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