Nationalization Of Mining Ruled Out

24 Dec 2012

President Zuma continues to assert that South Africa will stay a mixed economy. The ruling African national Congress has already ruled out nationalization of the mining industry. The announcement is regarded as a defeat for the left-wingers who are demanding nationalization for increased wages for mining workers.

South Africa has gold diggers from as far as Canada, one of the developed countries! That's how important the precious metal is for South Africa. However, of late, there is concern from various quarters on the welfare of the miners, ever since the shooting in the platinum mines.

The concerns of the mining sector are: Is there going to be a mining tax on the mines? Are the mines going to be nationalized? The miners' leaders and miners are demanding higher wages and nationalization which is going to facilitate higher pay. Any new mining tax will affect overseas investment. Still, some new mining taxes are expected to be levied in order to appease the leftist elements. Greater role for the state-owned mining company is also on the cards.

The uncertainty hanging over the mines is being sought to be cleared by leaders like President Zuma and his aides. But the doubts are still there. Meanwhile, Canadian gold diggers are seeking jobs in Burkina Faso, Niger and Senegal.

Migrate to South Africa. For further information contact: 1800 103 1555