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'SA mining not investor friendly'

RandGold Resources CEO says the mining industry needs to be more investor friendly.

RandGold Resources CEO says the mining industry needs to be more investor friendly. Picture: AFP.

CAPE TOWN - RandGold Resources CEO Mark Bristow says South Africa has to position its mining industry as a more welcoming place for investors to do business.

He says proposed changes to legislation governing the mining industry will cause uncertainty despite Mineral Resources Minister Susan Shabangu's attempts to allay concern about the amendments currently before Parliament.

"South Africa finds itself in a situation where it's not welcoming."

Bristow says the implementation of new legislation will create uncertainty.

"If you enable business through enabling legislation it's much more efficient rather than dictating."

RandGold has operations in Mali and Côte d'Ivoire, but the company does not intend investing in South Africa.

In Bristow's opinion, Kenya is becoming the preferred gateway to the continent.

Click here for a feature on the Investing in African Mining Indaba.

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