The Mining Industry Is Terrified By The Rise Of South Africa's Julius Malema

Business Insider ^ | Apr. 8, 2010 | Gregory White |

[george76]

Julius Malema ...fresh off of a meeting with Zimbabwean President Robert Mugabe, has said he will follow his neighbors policy of land seizure...

And, most concerning to foreign investors, he has called for the nationalization of South Africa's mines.

South Africa's mining industry produced 11% of the world's gold, 80% of the world's platinum, and 40% of the world's palladium in 2007.

[B.Lyle]

I suspect miners in Australia and South America will be rubbing their hands together in glee at the thought of the Mugabe reform plan applied to South African mining.

[mlocher]

he has called for the nationalization of South Africa's mines.

South Africa's mining industry produced 11% of the world's gold, 80% of the world's platinum, and 40% of the world's palladium in 2007.

And after nationalization, South Africa's mining industy will produce 1% of the world's gold, 8% of the world's platinum and 4% of the world's palladium.

[Irenic]

Oh...

I wonder if China will be pleased? hahahahaha

[Ellendra]

Precious metals are going to skyrocket. Platinum the most. We should have an investors’ ping list.

[spyone]

The Chavez solution. Production in SA has been declining for years. Therefore nationalise it. Watch production decline further.

[himno hero]

Now watch the social conditions and suffering in South Africa accelerate. With sound socio-political-economic advice from Mugabe the outcome will be the same.

The mines? Will be like the farms. Foreign exchange? Commerce? trade? All the way of the do do bird.

[mlocher]

I am not so sure. Obama will be soon handing out free gold coins and platinum bars to the underprivileged.

[MinorityRepublican]

The world will be better off once China takes over South Africa.

[MestaMachine]

He will be abu bama’s newest hero. After himself, of course.
Mirror, mirror on the wall...

[nmh]

“South Africa’s mining industry produced 11% of the world’s gold, 80% of the world’s platinum, and 40% of the world’s palladium in 2007.”

Africa has much wealth but they live like savages.

[Republic_of_Secession.]

I am skeptical as to how terrified they really are of him since the mining industry bankrolls the ANC regime. The folks who are MOST terrified of this thug are White farmers & the Boer people & even White people in general as he is notorious for singing a song about killing the Boers & killing the farmers - not necessarily one & the same as most Boers have urbanized since the 1930s. Former White Separatist tinged Boer Republican Eugene Terre'Blanche was killed brutally this past Saturday amid escalating ant-Boer rhetoric. The Boer people established their own republics during the 19th cent [ long after branching off & trekking away from the Cape Dutch Afrikaners during the 17th cent ] which were conquered by the British after they killed off 50 % of the Boer child population in the infamous concentration camps they employed as a desperate measure at concluding the war. The Boers were subjugated during the Apartheid era during the rise of the Afrikaner Nationalists [ which was a Cape Dutch - Boer coalition but as the Boers are the smaller segment of the Afrikaner designation they were marginalized under the coalition ] & the Afrikaner establishment repeatedly prevented the Boers from reclaiming their old Boer Republics as they did not want them to scupper their position within the South African macro State dispensation.

[pennyfarmer]

I know one Australian company that will not be too pleased. Minelab makes the premier gold metal detector in the world and their top of the line detector is currently selling at 150% retail on the used market. $6000.

[Don W]

Africa has much wealth but they the current governments FORCE the (other tribal) citizens to live like savages.

Clarified it. Slightly.

[nmh]

“Africa has much wealth but they the current governments FORCE the (other tribal) citizens to live like savages.
Clarified it. Slightly.”

Aren’t you happy the apartheid is over and all those nasty white people are being terrorized?

[Don W]

Had a South African refugee for a neighbour. He was a truly kind, intelligent and wise (to me, anyway) man.

He told me that what was once named “The Dark Continent” would renew its title.

As a skeptical young man, I scoffed at his assertion that socialism would destroy what freedom had brought the benighted of Africa.

How wrong was I?

[jiggyboy]

goldbug ping

Mail me to get on or off the Free Republic Goldbug Ping List

[RipSawyer]

“How wrong was I?”
//////////////////////////////////////////////////////////////

How wrong could you be?

[bert]

.....but they live like savages......

That would be noble savages.

Ignorance is bliss.

With a growing absence of civilizing restraints America is descending to that level. The inner cities occupied by feral blacks have nearly achieved that goal.

[sergeantdave]

Another racist black Hitler coming into power.

At the 2003 UN Sustainability Development conference in Pretoria, an economist took a survey of citizens living in South Africa’s shantytowns. The survey found that the two freedoms residents wanted most were the rule of law and private property.

SA has a core group of patriots that can bring freedom to SA. They need to be armed and trained to bring it about.