I don't want government raping and pillaging mine assets build up over decades with my money. If government think they can run specialized mines more productively and cost efficiently then business running these companies for decades, then they are either very, very naive, stupid or arrogant. My best guess is that it's a combination of all three. If Amplats see fit to reduce their workforce drastically to make their core business sustainable, they should be able to do so without verbal abuse from this country's top leaders. What's happening at Amplats has happened countless times at other companies worldwide in times of financial hardship. Shareholders pouring billions of dollars into these companies requires and demands it, and rightly so. Amplats cannot be held accountable for government's dysfunctional attempts at creating new work opportunities. In other parts of the world government embraces business with bailout money, business friendly policies and protection via tax laws. In this country they point fingers, threat to suspend mining rights, call names and turn a blind eye when businesses are in dire straits. Unless this government stop their attempts at all costs to create suspicion and distrust among workers of international companies, this country is headed nowhere. Money goes where it is welcomed, and it is clearly not welcomed in the precious metals industries in this country. This will inevitably lead to premature shaft closures, workforce reduction and open doors for mine grabs by well-connected ANC cronies what will enrich themselves as quickly as they can at the expense of every worker and remain protected by political get out of jail free cards. Government should stop being the ultimate hypocrites and embrace businesses, irrespective if it's run by white, brown or black or local or international citizens.
He is salivating at the prospects. He made his fortune out of Anglo's great charity unbundling. Right now he is positioning himself for round 2 - as "the Zuma" decreed, "Businessmen who support the ANC will see their profits multiply..." I think Cyril's only real concern is beating the likes of Sexwale to the loot.
Well said Kwagga.Your views should be put in the public domain where they can get the attention of our Economic Advisory Council or the like. In an economy like ours and the world over it is an unfortunate fact that business cannot be managed by labour. What I can give you as an example is this country's once thriving shoe industry let alone the majors like mining houses