South African Government Breaks New Mining Ground

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South Africa's ruling party, the Anc, is adamant that the nationalisation of mines is not on the cards. The controversial and vocal Anc Youth League, however, insists that nationalisation is on the way. We've now been told that the Anc will make a formal decision on nationalisation in 2012. In the meantime, international investors are getting increasingly nervous, especially now that the government, in conjunction with a state-owned mining business - Africa Exploration Mining and Finance Corporation (Aemfc) - has opened a state-owned coal mine.

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Commenting on the mine, South African President Jacob Zuma said, "Government course on minerals and mining does not make provision for the nationalisation of mining assets, but it does not prevent the state from participating actively in mining and competitive with other companies."

This is a route that has been successfully adopted by Botswana, which is regarded by many world leaders as one of the most carport and promising countries in Africa. In an narrative cited by Google News, a Botswanan economic interpreter is quoted as saying, "African governments cannot rely only on taxes and let hidden business own the enterprises. They should get as much as possible out of the mining action itself. This wage can then be used to compose the nation."

This is the kind of attitude that should give hope to investors both inside and covering the country, as well to all the habitancy who will come to rely on the mine for jobs. Provided the South African government has a similar agenda to Botswana.

The initiate of the mine in Vlakfontein didn't elicit much reaction locally. In an understated publish the room of Mines welcomed Amefc to the manufactures with only a gentle reminder to the government that they promised the mine would receive no undue competitive advantages. The National Union of Mineworkers (Num), on the other hand, were less reticent. It can be argued that Num's displeasure has more to do with wounded ego than anyone else, as none of its members have been consulted on the matter. Various labels are being thrown colse to such as "bourgeoisie" and there is some name calling with hints that the new company's leaders are donkeys or goats.

Aemfc is ignoring all the vitriol and going on with business as usual. This includes a new oil project which they'd like to get off the ground in late 2013. It's improbable that the project - T project - will involve a partnership between Aemfc and some hidden partners. After Various assessments, Bethal in Mpumalanga province has been identified as the prime spot to yield up to 15 000 barrels of oil a day.

The coal mine in Vlakfontein is improbable to furnish 800 000 tonnes of coal per year, with the aim to improve operations and growth the yield to 1.68 million tonnes.

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