None of this is surprising for a country whose leaders refer to each other as comrade.
These days, South Africa ranks among the ten least attractive mining destinations.
“When the new administration took over, it decided to try to totally revamp mining law in South Africa and copy what other African nations did,” Major said.
“You can imagine. You put billions into projects for 100 years and are now threatened with state ownership. New investment just stopped. Exploration and expansion just stopped. Why put money in something the state owns?”
“They were also changing legislation non-stop. You first had to have a BEE partner that owned 25%, and that quickly increased to 30%. And then, they said 70% of the money you spend had to go to BEE suppliers.”








