Malema triumphant over Zuma speech

blunomore

blunomore

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http://www.miningmx.com/news/markets/262285.htm

ANC Youth League President Julius Malema says that President Jacob Zuma's state of the nation speech indicates that nationalisation of the mining sector is here to stay.

Speaking to BusinessLIVE/I-Net Bridge on Thursday evening after the speech, Malema said that the policy of beneficiation moved the country away from being merely a custodian of minerals and would move ultimately to industrialisation.

Zuma had said a priority of government would be to finalise and adopt a beneficiation strategy as its official policy.

"“I think the speech was very good…. the Minister of mineral resources (Susan Shabangu) must take note of the President's speech. Nationalisation is on its way,” said Malema.

Shabangu and Malema have been at odds over the whole question of nationalisation of the SA mining sector. Shabangu has been vehemently opposed, while Malema has been propagating the idea.
 
It's probably some huge corruption from higher up. Nationalise the mines, rape the country of its money...

Get out of SA before this happens!
 
Will the world allow the nationalization!? It's waaaay too early for nationalizing the mines unfortunately. They should consider it in 15 to 20 years time when the country has other things going for it and not just the mining sector. When that sector gets more out weighed, then nationalize. If they do it, you going to chase away other investors because no one will know if they'll nationalize anything else. Like what if they nationalize the telecommunications sector? What about the fishing industry? The the farming industry.

Simply put, it won't work! People will also just up and leave to other countries then. We have a very strong mining community, don't piss them off. Once mining is gone, then slowly but surely all you engineers will start leaving, then your doctors and teachers etc... You can't run a country with just politicians ;).
 
They aren't worried about that. When one industry collapses and the professionals move out, they will simply employ cheep Chinese labor instead. And China will only be so glad to fund our failing economy for a larger bite of the "pie"
 
makes no difference to my life if they nationalise the mines or not, last time I looked I didn't have a gold mine in my back yard :(
 
furnic said:
makes no difference to my life if they nationalise the mines or not, last time I looked I didn't have a gold mine in my back yard :(
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Depends on how well you think government will run the mines after they take over.
If you believe they will continue to run as efficiently as the currently do - then no problem

If, however, every other state entity (with the exception of SARS of course) is anything to go by ... then prepare for another bottomless pit into which our taxes studiously collected by SARS will be poured.
 
furnic said:
makes no difference to my life if they nationalise the mines or not, last time I looked I didn't have a gold mine in my back yard :(
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Maybe not but a failed economy will affect you whether you think it will or not.
 
furnic said:
makes no difference to my life if they nationalise the mines or not, last time I looked I didn't have a gold mine in my back yard :(
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LOL, do you have any idea how much TAX the mines currently pay? If they are nationalised and run by the Government that stream of income is going to dry up and we all going to be worse off.
 
sprachzarathustra said:
Everytime a white person calls Malema a Monkey or a Chimp, or the white media sensationalises his importance and gangs up on him, more black people will suddenly take his side. You dig your won graves. Ignore the moron.
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glad to know there is logical reasoning behind following malema
 
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