Ramaphosa's Eskom plan 'lacked detail' needed by mining sector, says expert

President Cyril Ramaphosa has assured the mining sector that the South African government will soon unveil measures to revive Eskom and provide regulatory certainty.

Ramaphosa addressed delegates on Tuesday at the Mining Indaba in Cape Town, tackling concerns around electricity costs and supply.

He told mining companies and investors in the sector that the government will not allow Eskom to fail.

Mining expert Warren Beech says investors may need a little more than a "feel good" speech to be convinced.

Beech explains that Ramaphosa did not give details on the interventions, but committed to providing energy security through Eskom.

He says it is too soon to tell if his speech will have an impact on the investment community.

In the meantime, investors await the State of the Nation Address (Sona) on Thursday evening for more possible details.

There was a lot of feel-good and investment talk, the question is whether that has addressed some of the concerns.

Warren Beech, Head of mining - Hogan Lovells

The detail was lacking in Ramaphosa's speech today, understandably so with Sona later this week. But it was at best a feel-good speech.

Warren Beech, Head of mining - Hogan Lovells

Ramaphosa and Mineral Resource Minister Gwede Mantashe are tasked with wooing delegates and potential investors to promote South Africa as an attractive investment destination.

Listen to the analysis on The John Maytham Show:


This article first appeared on CapeTalk : Ramaphosa's Eskom plan 'lacked detail' needed by mining sector, says expert


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