Despite the loss of a great leader, Peter Attard Montalto, an analyst for Nomura International in London, believes that the South African market will remain stable.
“I’ve written a lot in the past about the market impact and political impact of South Africa without Madiba and I still believe he has left a strong enough country with solid foundations to mean we should dismiss the inevitable doom-sayers and expect little market reaction,” he said
“[The mining industry] has the capacity not only to be a reliable economic generator for South Africa and the region as a whole, but also to contribute to the building of a society freed from the faults and fissures which marred our past,” said Nelson Mandela to the Chamber of Mines shortly after his election in 1994.
This is a vision that mining leaders have recommitted to since the passing of Nelson Mandela, South Africa’s first democratically elected President of a free South Africa, on 5 December 2013.
“We recommit the South African mining sector to working tirelessly with all stakeholders both in government and civil society to do more. We shall draw from Mandela’s vision and leadership, which is undoubtedly the foundation on which the South African mining industry seeks to build,” said the Chamber of Mines.
Mark Cutifani, Anglo American CE echoed this, saying “Without his legacy, South Africa would not have become the thriving country that it is today, and South Africa’s economy would not have achieved the gains it has in the last 19 years. [We] will continue to do its utmost to shadow Madiba’s legacy by making a real and lasting difference to the prosperity, health and well-being of all our stakeholders in South Africa.”.
“He will be remembered for his determination to achieve equality for all our citizens, the conviction he displayed throughout his life, and his dedication to uplifting society’s most vulnerable. [We] will constantly strive to emulate his achievements by committing wholeheartedly to making a real difference in the prosperity and sustainability of our citizens,” added Khanyisile Kweyama, Anglo American executive director in South Africa.
“Nelson Mandela’s message of peace in a time of conflict changed South Africa and inspired the world. His life stands as a resolute symbol of hope in the face of oppression, and an unparalleled example of the power of reconciliation to heal a nation. He is a singular figure in human history and, while we will miss him, we know that his spirit lives on and serves as a source of inspiration and strength to us all,” said Philippe Mellier, De Beers Group CEO.