South Africa ConferenceI wasn't expecting much. You don't conduct negotiations in front of a microphone. When deals are finalized, we'll get the full details. But not while talks are ongoing. We have to figure it out for ourselves from offhand comments made by various government officials and industrial miners.
My own impression is that nearly all, and perhaps even all international miners are presenting a united front, like a herd of elephants circling to stare down the lions. That probably includes Chinese state miners. They can't be thrilled about having their agreements declared null and void either. Behind the scenes it may be getting very heated. The Mines Minister refuses to say if Kabila has signed the new mining law. I take that as a no. If he signed it, then why keep that a secret? From comments by RF and others, the main issue is that the government must honour existing 10 year stability pact legal agreements. The fact that Kabila has not yet signed off is encouraging. We shall see.
SA is looking up. Once Zuma resigns, the likely incoming President was a director of IVN for a decade, and is very pro mining. He would work hard to encourage investment. Platreef should get the green light.