Zuma: Don't worry about mines

L'Aquila, Italy - "There's nothing to be worried about."

With these words President Jacob Zuma on Friday threw cold water over the controversy on the possible nationalisation of mines in South Africa.

With evident reference to ANC youth leader Julius Malema's contention that the state should take over mines, Zuma said: "No-one makes policy from the floor; the ANC does not work like that."

"It's a point of debate, that's all. The outcome of this debate and the implications that it will hold for ANC policy will be determined by how the debate proceeds," Zuma continued.

With regard to the G8 summit that ended on Friday, Zuma noted that considerable progress had been made in attempts to stimulate global economic recovery.

The conversion of the G8 to a G14, which would now also include South Africa, Mexico, China, India, Brazil and Egypt, will contribute to a more global approach to turning around the International financial crisis.

The G14 represents 80% of the global economy.

Zuma has no doubt that this so-called L'Aquila initiative - an initiative by the world's foremost industrial countries to spend $20bn (about R160bn) on agricultural development in the developing world over the next three years - will stimulate the global economy.

"This is new money that will make a difference and we have the utmost confidence that the plan will be put into action. Food security in the developing world is essential to the health of the global economy," he commented.

- Sake24.com

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