Zuma Speech Raises Nationalisation Fears

“I think we’re one step closer to the nationalisation of mines, and I’m very concerned about that,” DA parliamentary leader Athol Trollip told Sapa after Zuma’s address in Parliament.

“We have a state mining company, but his (Zuma’s) referral to the mineral assets of this country belonging to the state is a massive concern, because we’re not going to be able to create jobs in that industry if there is nationalisation.”

In his address delivered earlier in the National Assembly, Zuma said the country’s mineral wealth “is a national asset and a common heritage that belongs to all South Africans, with the state as the custodian”.

He noted the country had significant mining assets, currently valued at $2.5 trillion.

Freedom Front Plus leader Pieter Mulder said Zuma’s speech contained “mixed messages” on mining.

“We really must create jobs and therefore we need some incentives for the private sector in agriculture but at the same time he announced labour laws… more restrictive labour laws… and I think that’s a mixed message. The same on the minerals, it seems that Malema (ANCYL president Julius Malema) is winning on nationalisation of mining and he’s not exactly clear on that.

“And I think these mixed messages will not help us at this stage,” he said. Sapa