Mamphela Ramphele Delivers Keynote Address at the 2013 Mining Indaba
Ramphele said that the benefits of mineral resources are not used in the interest of the majority of citizens, commenting that “for the most, mining tax revenues vanish in the black hole that is the central fiscus and end up funding large rural estates for presidents”.
She was also critical of the government during the questions and answers session, saying that there is no need for heavy intervention in the mining industry and that it “should rather focus its energy on proper housing and remuneration for mineworkers”:
Government should be careful in its interactions with the mining industry so as not to scare off investors, Gold Fields chairwoman Mamphela Ramphele said on Wednesday.
The academic and former anti-apartheid activist, who is rumoured to be starting a political party, seemed to criticise government during a question-and-answer session at the Mining Indaba 2013 in Cape Town.
In a robust keynote address on day two of the 2013 Mining Indaba, Dr Mamphela Ramphele told delegates too often the benefits of mineral resources have not benefitted the majority of citizens.
While there are exceptions like Norway and Peru, where mineral revenues are ring fenced, “for the most, mining tax revenues vanish in the black hole that is the central fiscus and end up funding large rural estates for presidents,” she said.