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) - Get Gold Fields Limited Sponsored ADR Report 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.