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We want 60% of Anglo, says Malema

Mar 06 2011 14:17 Willem Pelser

Company Data

ANGLO AMERICAN PLC [JSE:AGL]

Last traded 275.00
Change 1.99
% Change 0.01
Cumulative volume 1040206
Market cap 386.50bn

Last Updated: 23/04/2014 at 04:27. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - The ANC Youth League ­(ANCYL) wants a piece of Anglo American [JSE:AGL] – 60% to be precise.

“What Anglo does with the other 40% is their business,” ANCYL president Julius Malema said at a gala dinner in Nelspruit on Friday, predicting that the ­nationalisation of mines would “happen in my lifetime”.

Malema was in fine form, ­spitting fire at companies controlled by whites and not sharing enough of their wealth with blacks.

“Share that delicious piece of cake. Don’t eat it all alone!” he said to loud applause.

Malema said unemployment was the cause of recent political unrest, and nationalisation was the way to solve it.

“Maybe it’s time for the youth to climb into the driving seat of the car,” he said.

Malema doesn’t advocate ­taking over all white businesses. “We just want a fair share. If we don’t do it (nationalisation), we’ll always stay poor.

“The Oppenheimers don’t need to worry because we only want 60% of Anglo American’s money,” he said.

“We’ve never had this much capital. This is what we’re ­fighting for now. Our people ­simply have to benefit from the county’s minerals.”

Malema said Anglo American had agreed to give 51% of its mining interests to black people in Botswana. “We can’t understand why they don’t want to do it in South Africa. They think black people are idiots and they abuse us in South Africa.”

A black man who did not agree with the ANC about this was ­under the influence of ­capitalists, he said. “Unemployment in South Africa can only be compared to a hand grenade someone is carrying in his hand. One of these days, someone is going to pull the pin.”

Malema said political freedom was “useless without economic freedom”.

“We’re now economic freedom fighters. The revolution started to get food. We don’t have to apologise, or be shy about this struggle.

“An uprising is coming to South Africa, and the uprising won’t be against the ANC,” he said to screaming and cheering members of the ANCYL.

“The uprising will target white men and white monopolies,” he warned. “It won’t be aimed at white women.”

To prevent the revolution from losing steam, Malema urged a full hall in the Ehlanzeni District Municipality building to have as many babies as possible. ­

“Having babies is a revolutionary thing. You must reproduce! If you shame a black man about his large family, you should immediately change your ­attitude.”

Another speaker, Minister of Sport Fikile Mbalula, said a situation where the country was ruled by a clique could not be ­tolerated.

“It seems as if there are people who use the names of certain people in the government in ­order to advance their own ­business interests, and this is ­unacceptable.”

Anglo American spokesperson Pranill Ramchander could not be reached for comment.

- City Press
anglo american  |  ancyl  |  julius malema  |  mining
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