Evil or just thick? ANC doubles down on job-killing policies that earned world mining’s wooden spoon

As public consequences of the ANC’s destructive economic policies ratchet higher, Cyril Ramaphosa and his lackeys follow its bat-eared playbook - double down. The President’s economically incoherent ramblings in Parliament this week are mirrored in his party’s Mineral Resources Bill proposal that reinforces the idiocy which has driven the country into the bottom run of global mining destinations. The DA’s long-time specialist, Mineral and Petroleum Resources spokesman James Lorimer unpacks the ANC’s latest derangement with BizNews editor Alec Hogg..Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here.Support South Africa’s bastion of independent journalism, offering balanced insights on investments, business, and the political economy, by joining BizNews Premium. Register here.If you prefer WhatsApp for updates, sign up to the BizNews channel here.The auditorium doors will open for BNIC#2 on 10 September 2025 in Hermanus. For more information and tickets, click here..Watch here:.Listen here:.BizNews Reporter.South Africa’s mining sector is on the brink of disaster - and not because of falling commodity prices or geological depletion. Instead, it’s due to a new legislative proposal that Democratic Alliance MP James Lorimer calls a “doubling down on disaster.” In an exclusive BizNews interview, Lorimer -who speaks on minerals and petroleum for the official opposition - pulled no punches in dissecting the ANC’s latest draft amendment to the Mineral and Petroleum Resources Development Act (MPRDA), warning that it will further erode investor confidence, hobble exploration, and enrich politically connected elites at the cost of the country’s economic future.At the heart of the controversy is a bill that, according to Lorimer, reintroduces already-failed ideas under the guise of transformation. "If the mining industry is struggling, you'd expect government to improve conditions,” Lorimer said. “Instead, they’re doing the opposite."Bottom of the global barrelSouth Africa’s mining reputation is already in freefall. The Fraser Institute’s annual rankings now place the country among the bottom ten most attractive mining destinations globally - a stunning fall for a nation once seen as a gold and platinum powerhouse.Lorimer attributes this to both flawed policy and catastrophic administration. “Our desirability has been going steadily downward,” he said. “And yet, the ANC continues to operate under the delusion that investors will always come, no matter how bad the terms.”Those bad terms, he argues, are only getting worse.Six of the worstLorimer laid out six of the bill’s most damaging proposals:The death of “once empowered, always empowered”: Mining companies that previously met their Black Economic Empowerment (BEE) quotas would now have to re-empower themselves if black shareholders exit - an idea that was previously defeated in court.Ministerial overreach: Any change of ownership—even a single share - in a private mining company would require ministerial approval, while changes of control in listed firms (even offshore) would trigger government interference.Compulsory beneficiation: The bill gives government the power to force mines to reserve portions of their production for local beneficiation, regardless of whether it is economically viable. As Lorimer pointed out, “we don’t have electricity, we don’t have cost advantages, and we certainly don’t have the competitive environment to make this viable.”Reclassification of mine dumps: Previously treated as movable property, mine dumps would now require full mining rights - including all BEE and regulatory hurdles - before being reprocessed, threatening one of the few thriving areas of the sector.Exploration under siege: For the first time, BEE would be required for exploration licenses - despite the fact that exploration is high-risk and typically loss-making. “Why would anyone throw money into a hole on a gamble, only to share returns they may never see?” Lorimer asked.Legalising artisanal chaos: The bill also seeks to regulate artisanal mining, a move Lorimer calls unworkable given current laws around health, safety, tax compliance and environmental rehabilitation. “This is not a romantic picture of poor miners making an honest living. This is a legal and logistical nightmare.”A looting bill?Lorimer was blunt about the underlying motive: “They know the ANC’s days in power are numbered. So this is a last-minute grab.” Like the dying days of the National Party before 1994, Lorimer argues, ANC insiders are trying to lock in economic power through legislation that creates future dependencies.He reserved special contempt for the “Black Industrialist” program, calling it a “boondoggle” that serves as a funding pipeline for ANC-aligned businessmen. “Tens of millions are handed to hand-picked individuals, with little oversight and no clarity on criteria. And if any of them do turn a profit, you know who they'll be beholden to.”Can the industry fight back?Mining executives have traditionally stayed quiet, fearing retribution in the form of withheld licenses or delayed approvals. Lorimer accuses the industry of cowardice. “They've been too afraid for their own businesses. The government holds a loaded gun to their heads,” he said.Still, there are signs of resistance. The Minerals Council has pushed back against the bill, though Lorimer argues the response has been too tepid. “They take a far too diplomatic approach. The lack of diplomacy is left to me,” he quipped.There’s a pattern here, he warned: “The ANC puts a catastrophically bad bill on the table. Outrage follows. They roll back 50%. Everyone breathes a sigh of relief. But you’re still left with half a disaster.”Is there a way back?Despite the gloom, Lorimer believes South Africa could claw its way back into investor favour - if, and only if, there’s a dramatic policy shift. “We still have the resource base. We still have the skills. But this will take bold legislative reform and a clear signal that the country is open for business.”For now, that signal is nowhere to be found. “We are not doing that under the current mining regime,” Lorimer said. “This bill sends the opposite message. It says: stay away.”Unless something changes, it’s a message the world is already hearing loud and clear.

Evil or just thick? ANC doubles down on job-killing policies that earned world mining’s wooden spoon

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