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To: banco$ who wrote (22118)	10/21/1998 11:13:00 PM
From: waldo	Respond to of 116762

21 October 1998 Govt to take unexploited mining rights Stephané Bothma and David McKay PRETORIA - Government intends to nationalise SA's unexploited mineral rights in the next 20 years to give black companies greater access to them. Releasing a policy white paper and draft legislation for SA's new mining and minerals policy yesterday, Minerals and Energy Minister Penuell Maduna said it was unacceptable to government that two-thirds of private ownership of mineral rights was in white hands. However Maduna said current mining operations and bona fide intended operations would be allowed to continue and would not be tampered with by government. This did little to ease the fears of SA's mining industry which believes that government proposals could lower the value of mining companies' shares. SA mining industry's umbrella organisation, the Chamber of Mines, said that while the state must be the custodian of SA's mineral resources, a system of state regulation could not infringe on the property rights of private mineral rights holders. It said government's white paper was the most significant indication of government policy towards the mining industry since it came to office in 1994. bday.co.za W