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S. Africa Mines Chamber Warns on Carbon Taxes, Independent Says

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Nov. 27 (Bloomberg) -- South Africa’s Chamber of Mines said it may soon be hard to find investors in coal mining as proposed carbon taxes and fears over nationalization are making the sector unattractive, the Sunday Independent reported, citing Xolani Mkhwanazi, the group’s president.

South Africa should grant carbon tax exemptions to high energy users like smelters to ensure their survival, Mkhwanazi said, according to the Johannesburg-based paper today.

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, Mkhwanazi said, according to the paper.

To contact the reporter on this story: Jana Marais in Johannesburg at jmarais@bloomberg.net

To contact the editor responsible for this story: Dick Schumacher at dschumacher@bloomberg.net

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