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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: long-gone who wrote (66868)	4/2/2001 4:01:39 PM
From: sea_urchin	Read Replies (2) \| Respond to of 116810

long-gone: I am aware of that situation. The tribe has placed daily, full-page advertisements in the newspapers setting out its case against the SA government. As your article says, the tribe is arguing that it is part of the 'disadvantaged people' and, from a historic basis, is entitled to ownership of the ore body and therefore the royalties from Impala Platinum. The SA government may, however, think otherwise. "It is a tragic irony that the mineral rights in such hard-won land, acquired in the face of dispossession and opposition to land ownership by blacks on the part of Boer and colonial authorities and later of successive (white) Nationalist (Party) governments, should now face expropriation without compensation," the Royal Bafokeng said. Whatever the result of the Bafokeng claim, I don't think the circumstances which pertain to the tribe, and its platinum interests, are relevant to the gold mining companies. I am sure they will lose their mineral rights to the State and, in turn, will have to apply to the State to mine 'their own' assets, in terms of the new legislation. There is a high probability that, in not many years to come, SA will no longer be a gold mining country. I can't see many serious gold mining companies stomaching the socialist crap which the SA government is intent on dishing out. And, add to that the socialist trade union activity. You may know that the miners at Western Areas (Placer Dome) are, at present, on strike over leave pay. Nevertheless, I am sure some will say that all this cut-back in mining production is a good thing for the gold price. It's an ill wind ................