Gordhan dismisses nationalisation

[daveza]

http://www.fin24.com/Economy/Gordhan-dismisses-nationalisation-20100916

London - South Africa's finance minister Pravin Gordhan said on Thursday nationalisation of mines is not part of government policy and he does not expect any change of policy on this issue.

Julius is going to have a hissy fit.

 

[Nerfherder]

Well at least they are saying something...

 

[SirFooK'nG]

bleddy agent!

 

[dlk001]

Mantashe: Sapa | Fri, 10 Sep 2010

ANC secretary general Gwede Mantashe has accused those advocating the nationalisation of mines of political posturing, the SABC reported on Friday. "If you put on the table, 'let's talk about the nationalisation of mining'... if you don't support that we'll kick you out. That's not the issue," said Mantashe at a memorial lecture at the Walter Sisulu Technological University in Mthatha.

Cosatu and NUM: Debate on nationalisation 'has been narrowed' Sep 14 2010

The debate over nationalisation started "wrongly and in the wrong place", said Congress of South African Trade Unions (Cosatu) general secretary Zwelinzima Vavi on Tuesday. "It has been narrowed and it does an injustice to an otherwise very necessary discussion about the role of the state in the economy," Vavi said at the launch of Cosatu's "Strategy for a New Economic Growth Path" document.

The National Union of Mineworkers (NUM) does not support the wholesale or blanket nationalisation of South Africa's mines, it said on Wednesday. "In terms of this model, a state mining company should be operationalised and used as a government vehicle to invest only in strategic minerals such as platinum, coal, uranium, iron ore and manganese."

The NUM believed that with the development and implementation of a beneficiation and mining strategy, the country could use platinum to develop more capacity on the manufacturing of component parts for cars and jet engines.

Either way, there is going to be some form of nationalization and I suspect it will start in the same manner its done in Chile. Maybe government will buy Kumba as it always seen the company as a vehicle for a state mining company before Anglo American sneaked in.

 

[sox63]

I am seeing a trend emerging here. Whenever asked by reporters or the business community the ANC bigwigs in Government just dismiss the idea. But IMO, there is more to this than they are letting on, the policy is certainly on the agenda of the ANC, but not that of Government.

 

[dlk001]

But IMO, there is more to this than they are letting on, the policy is certainly on the agenda of the ANC, but not that of Government.

Agree! The momentum on nationalization is similar the late 90's discussion on the mining "use it, or lose it" bill. After several years of consultation, that process resulted in the 2004 Minerals Bill. Is suspect the policy is on the agenda but its form and implementation is going to prove a challenge for the alliance.

My thinking is the key people to the nationalization discussion is COSATU, NUM and SACP. Without their support, the ANC and ANCYL can bark forever.

 

[Jola]

So this guy making this statement, the head of SARS reports to him, but he works for a tax evader ?

Does he have any credibility ?

 

[rebel998]

It is becoming more clear by the day that somethings gone wrong with the ANC alliance.

 

[the graduate]

NAW, with the ANCYL continuosly barking about nationalization of mines, it is certainly on the ANC agenda. The ANCYL is only a buffer to which the 'business community/etc' can direct their distain and anger at. But the ANCYL would NEVER make so much noise about it if it was not ANC policy/future policy...