Barnaby Fletcher, senior analyst at Control Risks, told CNBC via email that Ramaphosa’s “ascension to the presidency will likely be welcomed by (mining) industry players.”
The new president “will seek to provide a measure of policy clarity to a sector that has struggled with uncertainty,” around issues including the country’s mining charter and black economic empowerment, he added.
Fletcher also said it was “likely” that that South Africa’s current minister of mineral resources would be removed for his implication in corruption scandals associated with Zuma and the Guptas, an influential business family in South Africa.
Earlier this week, it emerged that a South African mining industry group had decided to put off court action against new regulations that required more black ownership of mines, and instead negotiate with Ramaphosa.
“As a chamber of mines and as an industry, we’ve agreed to defer court actions that have been in place,” Cutifani said.
“From our point of view, we’re very positive on what we’ve seen so far” from Ramaphosa, he added.
