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To: craig crawford who wrote (135)	6/6/2001 2:36:27 PM
From: craig crawford	Respond to of 1643

anyone have thoughts on the possible ramifications of this? "The case against public trusteeship of mineral rights in South Africa." By Christo Luüs from ABSA [5/21/2001] investavenue.com Introduction In the early 1990s, certain political groups in South Africa espoused the cause of nationalisation of the mining industry in South Africa. However, such an economic restructuring would have entailed severe disruption and retrogression for both the mining industry and the economy as a whole. These plans were dropped, but now attention is again being focused on the mining industry in the form of government proposals for the public trusteeship of mineral rights rather than the nationalisation of the mines themselves. These proposals can nevertheless be interpreted as an attempt to nationalise mineral rights. New legislation to be called before Parliament in 2001 in the form of the draft Minerals Development Bill will seek to remove mineral rights from private sector companies, and instead entrench the state as the ultimate custodian of those rights. The Minister of Minerals and Energy, Phumzile Mlambo-Ngcuka, enunciated this aim in November 2000. Once the Bill is passed, local mining companies will become the holders of mining and prospecting licences, rather than the sovereign holders of mineral rights, bringing South Africa in line with numerous other countries. (excerpt)