Fin24

Mine unrest to hit investment

2012-08-30 07:50

Perth - Mineral resources minister Susan Shabangu said on Wednesday that a wave of labour unrest and violence in the mining sector that killed 44 people this month will have an impact on potential investments.

"It is a cause for concern.

"The tragedy does impact on any potential investments,” she told reporters on the sidelines of a mining conference in Perth.

The government would not allow a repeat of the strife at the Lonmin platinum mine [JSE:LON] but mining returns could not be made at any cost, the minister said. 

Shabangu also said mine nationalisation could not advance the interests of South Africa.

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Comments
  • charlesdumbwin.dumbwin - 2012-08-30 07:56

    And this is exactly why ANY talk of nationalisation MUST NOT even be considered. Much needed foreign investment would run a mile!!!

      fussed.anderson - 2012-08-30 08:14

      Oh what a kleeeeva deduction, when another Shabangu reassures foreign investors, Does the right hand realy know what the left hand is doing.

      nicholas.graan - 2012-08-30 08:19

      Precisely, I wonder if aunty Susan realizes that governments' non committal attitude towards nationalization and the mining sector, has actually had far greater implications on foreign investment than the recent unrest. Why no warnings from her regarding this?

  • DrGonzoSA - 2012-08-30 08:03

    What foreign investment? There isnt any, because nobody has a clue what the governement's policy actually is

  • Andre - 2012-08-30 08:11

    This labour unrest in SA is politically motivated and the instigators are making full use of the weak labour and trade union laws forced through by a government that does not know the difference between what is right and what is wrong!

      rofras.rassie - 2012-08-30 08:18

      You refuse to pay miners R12500, you refuse to nationalise. what the hell?

  • joe.bat.52 - 2012-08-30 08:14

    foreign investment would love reading this...it prepares to understand its not worth investing in this country. SA is so unstable its not funny anymore..

  • ingi.raikes - 2012-08-30 08:17

    ........who cares? The A.N.C.Y.L. and all their merry men don't care two hoots so why should we? We are all sick of trying to 'fix' what they and l might add, the A.N.C. have done to bugger our Country! VOTE FOR CHANGE, VOTE D.A.!

      lerato.mlambo.125 - 2012-08-31 10:42

      QI our country is in crisis , but what difference will DA make , i will still vote ANC thank you very much

  • eddy.deepfield - 2012-08-30 08:22

    What an understatement. Clem Sunter says any principled government would have resigned. BHP Billiton has not invested sqwat in South Africa since Juluis started with his Mugabish populist rhetoric. And who can blame them and others if they decide to invest else ware.

  • Zukile Marcus - 2012-08-30 08:32

    if and only if you did your job to ensure mines comply with the mining charter before you give them license. The truth is you are not diligent neither you the right person for the post. You probably got kickbacks too like NUM leaders. it is these negligence that rise the support of the likes of Malema because of people like you who ignore important matters in their job. now you tell the nation that the lost ives are of no value compared to the lucrative investment promise from abroad. the truth is you and your president are always beaten on the table because of your lack of skills, integrity and opt to advance your personal gain at the expense of the citizens. lives have been lost, increasing the number of orphans and widows. all thanks to your under performance lack of skills and wrong commissioner appointed by your always loosing president

      eddy.deepfield - 2012-08-30 08:36

      It not only her its the ANC government as well. Why don't they resign?

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