NAME: MMATHAPELO MOHAMED
COURSE CODE: ECNM 311
TASK: ASSIGNMENT 1
DUE DATE: 16 MARCH 2011
TOPIC: NATIONALISING OF MININGSECTOR IN SOUTH AFRICA.
WHAT IS NATIONALISATION
Nationalization is the act of transferring ownership from the private sector to the public sector. Deprivatization often occurs when a government attempts to maintain the stability of its critical infrastructure during periods of economic distress. This can occur in various segments of the economy. Deprivatization generally occurs in the areas of transportation, electricity generation, natural gas, water supply and healthcare because governments want to ensure these ...view middle of the document...
This was to happen before they were granted mining licenses. This was refuse by the government as the proposition was proclaimed to end in a bad way looking at all the countries and have tried to nationalize it mines and failed. He then came back half a year later with the same proportion but this time too the SA Students Congress, Young Communist League and COSATU echoed Malema’s call, although the ANC Secretary-General Gwede Mantashe said that the nationalization of mines is not on the ANC agenda, even then it was refused even the Mineral Resources Minister Susan Shabangu said that there will be no nationalization. SA appointment of independent researchers to investigate the nationalization of South African mines.
ADVANTAGES AND DISADVANTAGES OF NATIONALISATION OF MINING SECTOR.
The proposition for nationalizing mining sector was introduced to try and regain most of South Africans assets back. As discover our biggest mines in South Africa are mostly owned by foreign companies, mines such as BHP which is owned by Australia, ANGLO America, DBS and Cumba resource. Foreign countries are not really interested in empowering the economy therefore it makes it difficult for us to improve the economy through such mines. However this will cause a...