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With nationalisation off the table, mines are once more free to invest in massive projects

UASA welcomes the statement by Deputy Mineral Resources Minister Godfrey Oliphant that nationalisation is neither government nor ANC policy.

 

This statement will go a long way towards addressing the lack of investor confidence and should open up new opportunities for mines to start investing again in massive projects, something that was held in abeyance when the ANC Youth League president, Julius Malema, caused massive destruction to our economy because of his irresponsible statements regarding nationalisation.

UASA is looking forward to Government’s explanation of its new resource nationalism plan to increase control of the country's $2.4-trillion non-energy mineral wealth, and the increasing of taxes on mining companies’ profits and exports at this weeks’ Investing in Africa Mining Indaba.