Malema: nationalisation will attract more investors
The nationalisation of South Africa's mines should not scare investors, ANC Youth League president Julius Malema said today.
"We believe we will attract more than enough investors," said Malema, who was addressing delegates at the Mining for Change conference in Sandton.
While the country has been warned that talk of nationalisation would scare investors, Malema said there should be no need for them to flee when the subject was still an open debate being had in a democracy.
"We are not grabbing mines here. We are talking about how we can use our mineral resources to improve the lives of our people," Malema said.
Meanwhile, the National Union of Mineworkers (NUM) has threatened to embark on a one-day annual strike if there is a "deliberate attempt" by mining companies to resist transformation.
"Where we see that there is a silent, deliberate attempt not to comply with legislation, we think part of our responsibility... is to withdraw our labour power," said NUM parliamentary head Madoda Sambatha.
Sambatha said legislation on employment equity was derived from national debate, but many companies showed that they had "no interest" in complying.
A challenge facing the sector regarding transformation arose when companies used white women to fill equity quotas. "Mining companies hide behind the fact that white women are part of the historically disadvantaged," he said, addinga debate around describing white women as previously disadvantaged was necessary.
Sambatha also bemoaned the number of deaths in South African mines, warning that the union would also withdraw its labour for one day for every death in South African mines.
"The union has declared that it will take a day for each fatality to punish employers for loss of life," he said.
MzansiBoy
And who is going to own those mines? Juju boy, Khulubuse Zuma, Duduzane Zuma, Michael Hulley (Zuma's lawyer) and other connected politicians? Yeah right! Look at the mess which those well-connected fat cats did with Aurora mines!Besides, let us look at all government departments and state entities. I would like Jujuboy to point out just one of them which the government is running efficiently. SAA? No! Eskom? No! Transnet? No! Blue IQ? No! IDC? No! Umsobomvu? No!
Why must we believe someone who could not even pass woodwork? Communism has failed the world over. The state cannot effectively run any enterprise without getting their hands in the cookie jar. Leave the mines to those who have been running them effectively Juju boy! What do you know about mining when you failed something as elementary as woodwork?
Report Abuse
Nocomment
Kikikikiki,m just worried about the safety of the workers in his statement but to nationalize mines is just a waste of our taxes instead of using them to da youth.No youth will benefit out of that so better leave it and concentrate on the job gvn to u.Report Abuse
Decolonised
Amen...! There he goes opening his mouth again...eish..woodwork mara, nxa!Report Abuse
DRU
Juju & his cronies are only thinking of enriching themselves about this nationalism of mines.what a hogwash statement when he reasoned about improving the lives of his people,which ppl Juju?Sies mann.Report Abuse
Neon
Malema is the same as Mugabe, and look where is Zim today. Malema must shut up. He is a disgrace for this country. Stupid mamparra!Report Abuse
Thamzaringazini
Yes I agree 100% with Malema; Mine nationalisation will attract more corrupt investors like him, Mathale and Mr Ediot President Jacob Zuma(Just A Creator Of Babies with Zero Understanding of Marriage and Aids). These fat-headed individuals r talking this country down into its knees. periodReport Abuse
Manqanqa
The idea in theory is good but South Afican Democratic history has taught us that only the politically connected and relatives tend to benefit from these well intended economic ideas/programme. The ANC as ruling party has failed and continues to fail the ordinary South African on the street and the most unfortunate part is that Juju and his friends are using the plight of our people to enrich themselves. As they say 'easy come easy go"Report Abuse
Thamzaringazini
Please youth lets rally 2geda behind DA jst 4 a single term and shows ANC that everything is possibleReport Abuse
Ping
That's economics according to Malema also known as jujunomics. Maybe he is confusing disinvesting with investing. After all matric he has not.Report Abuse