Bankers scramble to back mining

Friday, July 24, 2026 | 170 Views |

Well supported: Banks are pledging to support both miners and their ecosystems, including the towns around them

At a recent industry gathering, banks turned out in strong numbers pledging their support to both miners and their ecosystem partners. The interest comes despite the damp conditions in several sectors of mining and banks’ own liquidity woes, writes MBONGENI MGUNI

A few years ago, the banking sector backed away from most parts of the mining industry, after yet another commodity slump led to the non-performance of loans and pushed a major bank into the red.

Mining in the country is a boom and bust affair, with the different players bouncing around the commodity cycle rollercoaster through the years. In good years, they soar to dizzying heights and in the lean years, sink to impossible depths, sometimes swinging right off the rollercoaster and into liquidation.

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