Mining interest cloud over Ramatlhodi
Fin24

Mining interest cloud over Ramatlhodi

2014-06-27 12:23

Johannesburg - Mineral Resources Minister Ngoako Ramatlhodi has mining interests in certain companies, as reported, but a process is underway for him to resign from them.

He held the mining interests before he was appointed to the portfolio, Ramatlhodi's spokesperson Mahlodi Muofhe said on Friday.

"He has already resigned from all his mining interests. It's a matter of when the legal process is completed and endorsed," he said.

"Legal processes are not like baking cupcakes or bread, they take time."

Muofhe was reacting to a report in the Mail & Guardian that Ramatlhodi holds a R20m stake in Atlatsa Resources, a black economic empowerment partner of platinum giant Anglo American Platinum [JSE:AMS].

The newspaper claimed his holding the shares implied he had a conflict of interest while mediating in the five-month strike in the platinum belt.

Muofhe said the shares belonged to the minister's ex-wife Ouma Ramatlhodi. He did not disclose what the minister's mining interests were, or their worth.

"The shares were held by his former wife. They were married in community of property. Now the minister and his former wife are divorced, but the divorce settlement proceedings are still ongoing," said Muofhe.

When Ramatlhodi was appointed to the portfolio, his first step was to approach his attorneys about his mining interests before intervening in the strike, he said.

"The minister declared all his interests. The minister, like everyone else, could not have foreseen that he was going to be appointed to this portfolio," he said.

"The very first thing he did was instruct his attorneys to put all his mining interests in a blind trust. The attorney advised him otherwise. The attorney said 'No, you can't put it in a blind trust, you have to resign from all these mining interests because of your new portfolio'. The minister complied with that and he resigned from all of it."

He said the legal process was taking its own course.

The day after visiting his attorney, the minister intervened in the platinum strike to try and resolve it.

"The minister has never had time, even to see his 98-year-old mother, who is no doubt sickly, because he was busy working on bringing the crippling strike to an end," he said.

"It is common knowledge that the minister has not even received his first salary this month. He was working extremely hard to resolve the strike."

Muofhe said the newspaper's allegation that there was a conflict of interest had no basis, because Ramatlhodi had mining interests before being a minister.

Comments
  • Zulu Makhise - 2014-06-27 12:32

    He should resign as minister.

      Karl Kat - 2014-06-27 12:52

      That's the problem with this country, corporate businesses falling over their feet to get these guys to sit on their boards and they are given ahares worth millions and make no impact or positive contribution

      Naas Du Plessis - 2014-06-27 12:52

      But he already owns shares with the west. That's exactly what they do. Keep people oppressed while the ministers laugh all the way to the bank without giving anything back to the voters.

      Ike Jakson - 2014-06-27 12:56

      Don’t talk nonsense, Zulu. He had to prove his credentials before he could enter politics and this will serve as proof that he was a good choice to be a Minister. You gotta learn the rules my boy.

      trev2 - 2014-06-27 13:10

      As much as I do not like this ANC government, I think this guy should be given a chance. He is doing the right thing by getting rid of these holdings, but it is all mixed up in his divorce proceedings, so will take time.

      Grootrot van Zyl - 2014-06-27 14:56

      Where did she get the stake and for what? For being black?

  • Jacqui Daane Van Rensburg - 2014-06-27 12:45

    Shouldn't he have resigned his mining interests before he took office?.

      Peter William - 2014-06-27 13:23

      He needed the money to buy his way in, hence his resignation from the mine after being elected

  • joe.smit.549 - 2014-06-27 12:49

    Has everyone got R20mil in shares? Where's mine? Which mine? Whose mine?

      Naas Du Plessis - 2014-06-27 15:27

      I also want shares!!!!

  • Tshigiginyedza Gwaah B - 2014-06-27 13:06

    Hail bee, we now have blacks owning R20m in shares, thanks madiba

      Cg Tours - 2014-06-27 15:11

      Go sort out the mess and murder in your Syria. what are you doing here?

  • Joseph Tettey - 2014-06-27 13:09

    Nobody is clean and that's surprising.When business is bad they use their money to buy way into Government which seems easy.Put South Africa first and not the other way.

  • Thabani Mpulo - 2014-06-27 13:14

    "Has not even earned his first salary" you work first and got paid afterwards.

  • Paul Lyndsay Coelho - 2014-06-27 13:18

    So that's why he stepped in to end the strike. It was costing him money. I hope he has shares in Dorbyl so that he can end the metal industries strike before it starts.

  • jonas.mbedzi - 2014-06-27 13:22

    Ramatlodi wa zwithude naa? haa iwe vhathu

  • Peter William - 2014-06-27 13:26

    The gravy train has already left the station, so many want to be in the first coach poopoooop

  • Mashai Joannes - 2014-06-27 13:29

    Almost all of them hv conflict of interests.be it in government tender sysytem or mining deals.they all hv shares one way or the other

  • Ignatius Maepa - 2014-06-27 13:42

    south africa is ruled by hungry lions,what else do we expect? Banana state? The ruling party won't support workers while the leaders having shares in every company. Cosatu members wake-up.

  • William MacFarlane - 2014-06-27 14:06

    Do as is done elsewhere. If you are appointed tp any cabinet position , all your holdings are put into a blind trust . That way you have no wY of interfering in any company u own , as you do not know where your money is invested .

  • Frikkie Marais - 2014-06-27 14:13

    "Muofhe said the newspaper's allegation that there was a conflict of interest had no basis, because Ramatlhodi had mining interests before being a minister" This is a sarcastic comment right? Please tell me it was a joke, otherwise I am getting very worried

  • Sonnyboy Mathebula - 2014-06-27 14:13

    hahahahhahahahahahhahahahhahahhah I think Zuma his the next

      Naas Du Plessis - 2014-06-27 15:28

      I wish!!

  • Lee Jansen - 2014-06-27 14:19

    Caught with his hand in the cookie jar!

  • Phill Sarefa - 2014-06-27 14:22

    When Mbeki took Ramathlodi to Cape Town he wanted to give him Justice ministry but was prevented to do so by allegation of corruption against him. Now the secret is out. But Ngwako is fortunate because in Zuma's cabinet Corruption is number one consideration for qualification. Watch this space

  • Robert Nkosi Wa Dlamini - 2014-06-27 14:24

    Noting wil change dis country

  • Around da Sun - 2014-06-27 14:35

    Lies!!!! These are all lies!!! The period during the platinum strike, I constantly read in the news the RADICALLY intelligent statements from my fellow country men. Statements about the evil West and the coconuts that are stealing the wealth of Africa and "these imperialistic Capitalists" and all those educated, non-rehearsed and not learnt off-by-heart, statements! Now I am expected to believe that BEE companies hold shares in mining giant companies? Sorry, but Snowball, Napoleon, and Squealer have spoken so it must be true!!! (Boxer the horse is also somewhere in it!) Hello Africa, tell me how you're doing.........

  • SunshinyDay - 2014-06-27 14:47

    Ah, where are our friends who always comment that it's white foreigners making the money from these poor miners? You own people will stab you in the back without even blinking.

  • Bob Mearly - 2014-06-27 15:15

    I take offence, cupcakes & bread do take time and skill to bake.

  • Hein Whelan - 2014-06-27 15:37

    Holy fark! How many contradictions in 1 article. If this is written the way it was said then there is something very shady happening here. 1) He has/had mining interests - But his wife has the shares. 2)His ex-wife - but the divorce is still not final-in community of property. 3) Woah! 1st reaction is to try and hide the interests in a blind trust - and they even admit to it? Oh, and ag shame, he hasn't even received his salary yet. Well chuck-you-farley, I have and guess what SARS took nearly half of it, so no sympathy here, move along!!

  • Johannes Matjila - 2014-06-27 16:15

    That is why my CIC wants the mines to be Nationalized

  • Truth.speak - 2014-06-27 16:23

    These ANC leaders make me sick. All corrupt to the bone and just in it for themselves.

  • antonio.tonin.58 - 2014-06-27 16:50

    Get yourself a new spokesperson, Minister. This one won't do your image much good - he's a cupcake!

  • Makgale Makgalemele - 2014-06-27 17:00

    Last time when I was canvassing for EFF, possible voters told me that they will not vote because it is like "placing people in a better position to be rich". I tried to explain that not all politicians are rotten. They are not in there for riches. Alas how wrong am I! I am so dissappointed with our politicians. Just imagine Ramatlhodi' s ex wife being a businesswoman. Something smelly here!

  • kgabo.erasmus - 2014-06-27 19:19

    Hmm! The extent of the rot just keeps getting deeper and deeper.

  • Piet Snot714 - 2014-06-27 20:28

    Just wonder how they work out the Capital Gains Tax on all this - got the shares for nothing - now they are worth R20mill - CGT on R20mill? At least we as tax payers get something back!

  • Tamolo Mopheme - 2014-06-27 23:38

    Thought him as one of better people but was wrong,itjo!!

  • Lunetic Mental - 2014-06-28 12:05

    I smell a rat!

  • Joe Black - 2014-06-30 11:31

    A finger in every pie...

  • Joe Black - 2014-06-30 11:37

    What must be remembered is that these shares were made available for BEE. Black Economic Empowerment. Most often at budget prices. But I can assure everybody that reads this that in stead of distributing it to the needy or just engaging the needy with information on the availability, all the BEE shares were mopped up by politicians as political favors. Very many of them would have been bought with tax money as well.

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