When this war is over, Russia’s shrinking economy will be in no position to rescue South Africa.
Mining companies are making a killing out of Russia’s war against Ukraine which will leave us poorer because South Africa has chosen the wrong side. While rising oil prices push up our fuel costs, those who mine certain metals rejoice. Sanctions prevent exports from Russia. This creates shortages and inflates prices of platinum group metals such as palladium and rhodium, which SA has in relative abundance.
This creates shortages and inflates prices of platinum group metals such as palladium and rhodium, which SA has in relative abundance. In this way, the commodities boom which has boosted our revenue for several years is extended. There are also political uncertainties around security of ownership amid calls for expropriation without compensation. Our labour laws and industry “charters” specifying race-based quotas are not attractive to investors. Failure to deal with the causes and culprits of last July’s riots also adds to investor unease.
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