• To do list

    Keep separate lists to ensure your to-dos don't get cluttered and gain stress-free productivity, Ian Mann.

  • Clueless leaders

    Zim's leaders are clueless about managing the economy or leading the nation, says Malcom Sharara.

  • Govt is out of touch

    Journalists seems to know more than those paid to govern us, says Mandi Smallhorne.

All data is delayed
Loading...
See More

Zuma: Mining profits must benefit all

Jan 15 2013 07:52
Sapa

Johannesburg - South Africa's mining industry cannot continue to make "huge profits" without benefiting the country's citizens, President Jacob Zuma said on Monday. 

While the mining industry had shaped the country, it had many shortcomings such as the migrant labour system, he said in an interview on CNBC's Political Exchange. 

He sought to allay investor fears about changes to resource rents, mining royalties and taxes. 

"People will always have some nervousness when we say things... When Zimbabwe said indigenisation people jumped all over. Today people go to Zimbabwe to be part of indigenisation." 

However, things could not stay the same. 

"(Mining) can't make huge profits with no benefits to the people of the country... (if you are not) addressing the economic need of the country you must know we are dealing with a problem."


Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

jacob zuma  |  mining

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
164 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

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

Voting Booth

Labour’s call for a cap on salary of high earners is?

Previous results · Suggest a vote

Loading...