Gauteng ANC plans mining buyout

[Drake2007]

Johannesburg - Local mining houses may be forced to give up 49 percent of their companies to blacks if the Gauteng ANC’s plans to table a policy proposal that recommends Zimbabwe-style ownership laws gains the support of the ruling party.

Described by at least one analyst as a “subtle form of nationalisation”, the policy proposals will be tabled at the party’s provincial conference next month for endorsement and may go all the way to the ANC national general council (NGC) scheduled for next year.

But the Gauteng ANC proposal will see the state buying the 49 percent in the companies, unlike in Zimbabwe, where the state compelled mining firms to hand over 51 percent of their companies to the locals.

link here

one can't help thinking that Marikana and the mining strikes where orchestrated by the ANC to devalue the mining houses to take them over.

 

[Vaper's Corner]

Yep, it often feels like this country is sitting on the knife's edge, as though things can tip either way any moment

 

[antowan]

They are messing with the economy in a criminal way. This kind of ill conceived ideas end up costing the country valuable income and leads to a massive drop in confidence...

 

[Mila]

And if they say no? Then they will be forced? Doesn't sound much different in the end.

 

[Galactica]

It looks like Malema doesn't have to be in the ruling party to influence policy.

 

[mintydroid]

A new rating will have to be created to tell investors just how super **** our country is.

 

[Hemi300c]

And the criminals get richer and the poor will still fill the criminals coffers.
This country is going downhill fast.