RE: RE: RE: RE: RE: RE: RE: South Africa Sho,
Sometimes it is easy to only hear the words in your head and forget how they will be received. I am not the least bit worried about our investment being threatened by this knucklehead (Malema) or any other self appointed "friend of the common man", as he drives his black Bentley into his muti-million dollar compound. He was kicked out of the ANC for a reason. The below articles will review the official position of the South African government, I repeat, the people in charge, not a headline grabbing opportunist.
W
BBC
5 March 2012Last updated at 10:39 ET
South Africa's mines 'will never be nationalised'
South Africa's Deputy President Kgalema Motlanthe: "There's a property clause in the constitution which must be respected"
South Africa's governing African National Congress has totally ruled out nationalisation of the mines, Deputy President Kgalema Motlanthe says.
"It is not going to happen," he told the BBC - while expressing hope that the political life of its loudest champion, Julius Malema, was not over.
Mr Malema was expelled from the ANC for bringing the party into disrepute and sowing division.
"The ANC Youth League will never agree that its leadership be subjected to unfair and unjust treatment or banished for narrow political purposes," a statement read at a press conference by the youth league's deputy president, Ronald Lamola, said.
Once a close ally of President Jacob Zuma, Mr Malema, 30, is now one of his strongest critics - saying that the president is ignoring the poor people who ensured he rose to power in 2009.
'Time for reflection'
Mr Motlanthe, who is also the ANC's second-in-command, made clear that the party would not pursue - now or in the future - a policy to nationalise the country's mines.
This follows a report last month that concluded nationalisation was not a good option for South Africa.
The ANC's Youth League - which has a history of pushing for radical policies within ANC - does advocate state ownership.
Mr Malema says he is being persecuted for standing by that position, and saying President Zuma should be replaced as the ANC leader.
But correspondents say Mr Malema's combative, populist style has angered many in the party.
But he said he hoped that Mr Malema would "grow into a better person" as "any setback also offers time for reflection".
"They say that a boxer who has no experience of being knocked down may not be a good challenger," Mr Motlanthe said, reacting for the first time to Mr Malema's expulsion in an interview with the BBC's Milton Nkosi.
"Because the day he gets knocked down the surprise of it may mean he doesn't know how to rise," he said.
"I hope he takes it [the expulsion] in that spirit...."
Bloomberg
ANC Study Rejects Nationalization of South Africa Mines, Business Day Says
By Alastair Reed
A report by South Africa’s ruling African National Congress found that the nationalization of mines, as proposed by Julius Malema, head of the party’s youth wing, would be unconstitutional and too expensive, Business Day reported, without saying where it got the information. The government can’t afford to buy stakes in South Africa’s mines, and it would be against the constitution to seize them, the Johannesburg-based newspaper said. Mining companies should pay more tax and royalties, and there should be more processing of raw materials locally with higher duties on the export of unprocessed minerals, Business Day said.
The study, compiled by three economists, is intended to guide the ANC’s discussions into how to better distribute South Africa’s mineral wealth, Business Day said. The report is expected to be discussed by a meeting of the ANC’s national executive committee, the newspaper said.
The ANC’s youth wing has called for the nationalization of mines and the seizure of land in South Africa, where more than a quarter of the population is unemployed. The ANC, led by President Jacob Zuma, has said that mine nationalization isn’t government policy....
Leaders of the largest companies operating in South Africa, including Anglo American Plc (AAL) and AngloGold Ashanti Ltd. (ANG), have said that Malema’s nationalization drive is deterring foreign investment and curbing growth in Africa’s biggest economy....