Waning optimism over the outlook for the global economic recovery and questions over the government'...
Waning optimism over the outlook for the global economic recovery and questions over the government's race agenda are weakening the South African resources sector. The sector had done well in late 2001 on expectation of global monetary easing boosting the economy and demand for South Africa's commodity exports. A 25% fall in the value of the rand in December further aided the competitiveness of the country's mining exports on a global basis. But investors have grown impatient for a broader recovery, and a proposal by the South African government to transfer control of mining as...
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