Corporate & Commercial Law News South Africa

ANCYL demands 'already addressed' by existing laws

According to the Business Day, Business Leadership SA chairman Bobby Godsell said that nine of the 12 demands presented to the Chamber of Mines by the African National Congress Youth League (ANCYL) could be addressed by regulation the government already has in place.
ANCYL demands 'already addressed' by existing laws

According to the Business Day report, Godsell also said "The proposal to nationalise the mines is an unhelpful answer to an urgent and vital group of questions and in the interests of all South Africans."

In response, the youth league's treasurer, Pule Mabe, is reported to have stuck to the line that nationalisation would benefit communities near mines, boost employment and create more wealth for the state while at a separate event, according to Business Day, Xolani Mkhwanazi, president of the Chamber of Mines, said members of the chamber, which represent 90% of SA's mineral output, are "emphatically opposed to nationalisation".

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