Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: rolatzi who wrote (13895)	6/5/2002 10:09:42 AM
From: Louis V. Lambrecht	Read Replies (2) of 36161

Got far too much GFI myself. nytimes.com A Radical Overhaul for South African Mining By HENRI E. CAUVIN JOHANNESBURG, June 3 — After more than a year of painstaking revision and top-level deliberation, the government here is about to alter the balance of power in the country's mining industry. Parliament will begin final work this week on a bill that will give the government ultimate ownership of all of the country's prodigious mineral resources, which mining companies would then exploit only under license, giving the state the final say over who digs what and where. With the new law, South Africa hopes to transform an industry that has been an instrument and emblem of white social and economic control since gold and diamonds were first discovered in sizable quantities in South Africa in the 19th century. Since the end of apartheid and the establishment of black rule almost a decade ago, the government has made it a central objective to turn the mines into engines of economic betterment for more of the black majority, as they have been for many in the white minority. ...... I always forget that in the name South-Africa, there is the word Africa Going to dig a bit around that issue.

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