Mining News

Minerals Council lauds ‘realistic, pragmatic’ budget

The Minerals Council South Africa has welcomed the “realistic and pragmatic maiden annual budget speech” by Finance Minister Enoch Godongwana, which acknowledged the critical role mining plays in the South African economy. It noted in a February 23 media statement that it was worrying that the country’s debt was forecast to rise to R5.4-trillion over the medium term, while the current debt of R4.3-trillion was already incurring debt-servicing costs of R330-billion a year – more than the government spends on health, police or basic education.

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