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Gold/Mining/Energy : Precious and Base Metal Investing
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To: jrhana who wrote (26408)1/6/2004 9:51:12 AM
From: Elizabeth Andrews  Read Replies (3) of 39344
 
The political discussion about South Africa is about getting rich as that's where there's a lot of metal and more to be found. The landscape, both political, economic and mining, is in rapid change. When fundamental changes are ignored opportunities are also passed up and we shouldn't let that happen. Maybe the focus should be on what changes are coming to the SA mining scene and are they jeopardized by the political environment? Let's not ignore the area as there's huge potential, along with huge problems.

The main issue in my view is that the there has to be a transition of power and wealth to the black majority. Simple enough on surface, right?

This is not a new problem in Africa and it is an issue that has been bungled at some point by every other country as it moves from colonial status. By most measures in all countries the black population is worse off after “independence” as the unshackling neither caused freedom nor wealth.

I believe the blacks in SA are very much aware of that issue and the majority is unlikely to support any political initiative that could reduce the country to anarchy, religious or tribal rule or impoverishment. It just may be that the black SA may be the most interested stakeholder in making the transition real and it can’t happen without the mining companies who control the fate of the GNP and the currency. I’m sure they are looking for the best way forward for them as are the mining companies. So, if there’s a political issue here that makes me money let’s focus on it.

If this makes me an American capitalist, opportunist or bigot, I don’t apologize.
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