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Jacob Sonenshine [00:00:00]
Do you think that it would be in South Africa's interest to not regulate its such a big part of their economy from gold mining?

Nick Holland [00:00:08]
Well I think gold mining must be regulated because we need to have proper safety standards, environmental standards. We need to make sure that the resources are actually mined for the benefit of society at large not just for the shareholders. So it must be regulated but I think we must regulate in a way that attracts investment into the industry. I think some of the steps taken over the last year have certainly helped. And we must commend the Government for putting out an important charter revision which is going to help us in the future. But we've got to continue working together with government and organized labor to continue to create the environment where the money will come in.

Jacob Sonenshine [00:00:47]
So, Gold Fields is not leaving their headquarters in South Africa any time soon.

Nick Holland [00:00:51]
We don't think so at this stage. We're very happy with our origins. But at the same time we're a global player. And as you can see I'm standing here today at The New York exchange, gives you an indication, we are with global.

Industrial regulation is never exactly welcomed by executives. But sometimes it might just be in a company's best interest to not only comply with regulators, but to actively engage with them. 

The South African government seeks to protect laborers as well as business parties involved in the movement and sale of minerals around the world. Mining also accounts for a major portion of South Africa's economy. 

Gold Fields (GFI) CEO Nick Holland said, "I think gold mining must be regulated because we need to have proper safety standards, environmental standards -- we need to make sure that the resources are actually mined for the benefit of society at large, not just for the shareholders, so it must be regulated." Still, "we must regulate what attracts investment into the industry."

He commended the government for the way it has already enacted some regulations, as the industry and the government seem to have had a collaborative relationship on the issue of regulation. 

"We've got to continue working with government and organized labor to continue to create the environment where the money will come in," Holland added. 

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