SA’s unlikely economic saviour, mining provides “unexpected boon”, says Bloomberg - Peter Major weighs in
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A piece on Bloomberg (head over to BizNews.com to read it) noted that the old South African mines have, in fact, rescued the country from a very dire economic situation. Bloomberg reports that "surging demand and prices for commodities including platinum-group metals, iron ore, manganese and coal are generating record mining-company profits and bolstering government revenue." Joining BizNews founder Alec Hogg to discuss this is veteran mining analyst, Peter Major. "To say old mines are saving us - I take a little bit of offence to that. It's like saying these old I.T companies are really saving the [United] States. Because a mine is old doesn't mean it isn't profitable or doesn't have a long life." Learn more about your ad choices. Visit megaphone.fm/adchoices
