ANC tight-lipped on nationalisation report

The ANC on Thursday declined to comment on reports that a study it commissioned discourages the nationalisation of mines. "We are not commenting on that report. The matter will be presented to the NEC (national executive committee) sometime...

South Africa leads way in distributing wealth to mineworkers

The R3.7-billion worth of worker wealth that two South African mining companies dished out in December to nearly 16 000 below-management employees will probably have diggers the world over eating their hearts out. It is a formula for staff...

Resources Watch roundup

Creamer Media’s Resources Watch highlights some major events that took place during the year.

Much-opposed nationalisation proposal unlikely to be implemented – Chamber of Mines CEO

Nationalisation will not take place as there are too many leaders opposing its implementation, South African Chamber of Mines CEO Bheki Sibiya said at the African Mining Network end-of-year gala event, on November 17.

ZERO NATIONALISATION

'CLOSE TO ZERO' NATIONALISATION – South Africa's ousted African National Congress Youth League president, Julius Malema, was exceedingly conspicuous by his absence. All Mining Weekly could photograph at his place on the podium at the last of six...

Malema says ANC brass wants him out over call for nationalisation

Embattled ANC Youth League leader Julius Malema said on Wednesday he is a victim of a witch hunt by some top members of South Africa's ruling party who want him out to silence his calls to nationalise mines and seize white-owned farm land....

Planning commission says rights certainty crucial, takes swipe at nationalisation

South Africa needs to address uncertainties over ownership, tax treatment and allocation of mineral rights if it is overcome the current constraints to mining growth and investment, the National Planning Commission’s (NPC’s) inaugural...

Godsell says 'near zero' chance of mine nationalisation

The likelihood of South Africa’s mines being nationalised is “very close to zero”, former AngloGold Ashanti CEO Bobby Godsell said in an interview on Wednesday, the day before ANC Youth League (ANCYL) president Julius Malema, who had...

Nationalisation could contribute to social transformation if managed well

Resource nationalism is by definition not a bad idea, as it is an accepted method for governments around the world to extract sufficient rent from the limited resources they have, investment banker Rothschild South Africa CEO Martin Kingston said...

THE DAY JULIUS CALLED

1887: The Johannesburg Stock Exchange (JSE) is established for mine investors. 1889: The Chamber of Mines (CoM) of South Africa is established for mine owners. 1994: The African National Congress (ANC)-led democratic government takes up position...

ANC mulls legislation to supersede mining contracts – official

South Africa’s ruling African National Congress (ANC) wants to forge an economy in which its natural resources best serve the country, says the head of the party’s task team formed to study a proposal to nationalise mines. National needs...

Investor uncertainty over nationalisation justified − S Africa's Nogxina

Resources investors in Africa could have certainty regarding nationalisation in South Africa by July next year, Advocate Sandile Nogxina said on the sidelines of the Africa Downunder conference, in Perth. Nogxina, the former director-general in...