• Offshore investments

    A Fin24 user wants to know how to ensure offshore exposure.

  • Follow us

    Like us on Facebook to see the latest business news and to give us your views.

Data provided by McGregor BFA
All data is delayed
Loading...
See More
Where am I? Home

Agri SA seeks R99bn damages

Oct 04 2010 15:01 Sapa

Related Articles

AgriSA, DA welcome land ruling

Spotlight on mineral rights

Miners fail to meet BEE targets

Mineral sales at record R13.3bn

SA mineral sales rise 14%

Mineral sales up by 6.8% in '04

 
Pretoria - Agri SA's legal bid to claim damages it says farmers have suffered as a result of mineral rights falling under the control of the state amounted to R99bn, the North Gauteng High Court in Pretoria was told on Monday.

Advocate Cassie Badenhorst, representing Mineral Resources Minister Susan Shabangu, told the court that the total value of the claims amounted to R99bn and in fact one law firm had acted for 1 100 farmers with claims valued at R32bn.

He said the R99bn included R47bn in unused claim rights.

Agri SA is seeking damages on behalf of its members from Shabangu as it claims the mineral rights its members owned were expropriated by the government when the Mineral Petroleum Resources Development Act became effective on May 1 2004.

According to the government the law makes the state the custodian of the country's mineral wealth for the benefit of all South Africans.

Acting Judge Hans-Joachim Fabricius told Agri SA advocate Gerrit Grobler that when the trial resumed on Tuesday he would like to hear how Agri SA claimed the expropriation took place.
agri sa  |  minerals
NEXT ON FIN24X

 
 

Read Fin24’s Comments Policy

Comment on this story
21 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

For detailed Unit Trust information, click here.

We're Talking About...

The Debt Issue

The Debt Issue brings you the latest debt news, tips on how to deal with and avoid debt, a panel of debt experts and real life debt stories from across South Africa.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...