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Thursday, 22 Feb 2018

2011-07-22: TNA Business Briefing with Minister Susan Shabangu

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Sandton Sun, 2 August 2011 - The movers and shakers in South Africa’s business and mining sectors will gather at The New Age Business Breakfast Briefing to discuss the nationalisation of mines with the Minister of Mineral Resources, Mrs Susan Shabangu.The first in a series of monthly business briefings, will address the prevailing concerns and fears through a robust and constructive discussion amongst industry leaders.

The country’s vast mineral resources play a vital role in its economy, and indeed in its consciousness.The debate on the nationalisation of mines has unnerved investors who are already worried that this could be a part of Government’s policy.

The view that nationalization is a step forward has been met with immediate criticism from various quarters: South Africa, like most of the other countries in the SADC region is highly dependent on minerals. The economy is based on the production and export of minerals, which, in turn, have contributed significantly to the country's skewed industrial development.

The demand for the nationalization of mines was predicated on fulfilling the vision of the Freedom Charter that states that “the wealth of the country shall be shared among all who live in it”.Assertions have been made that the notorious Minerals and Petroleum Resources Development Act [28 of 2002] (MPRDA) brought mineral rights under state control, therefore it is not necessary to nationalize mines, as this piece of legislation means that all South Africans, through state ownership of the mineral rights, already share in the wealth of the mining industry.

With many individuals hoping to hear the reassurance that the mines will not be nationalized, the Minister of Mineral Resources will enable stakeholders discern Government’s policy on the matter.

Join The New Age in what promises to be a biting breakfast with The Minister of Mineral Resources, Mrs Susan Shabangu.

To book visit www.frontfoot.co.za/Briefing/