Sunday Independent citing Xolani Mkhwanazi president of South Africa’s Chamber of Mines reported that South Africa’s Chamber of Mines may soon be hard to find investors in coal mining as proposed carbon taxes and fears over nationalization are making the sector unattractive.

Mr Mkhwanazi said that South Africa should grant carbon tax exemptions to high energy users like smelters to ensure their survival.

The country’s mining industry could grow by at least 3 percent a year for the next decade and create 100,000 jobs if there is a supportive environment and calls for nationalization are laid to rest.

(Sourced from Bloomberg)