Minister Mosebenzi Zwane’s plans to freeze future mining transactions is a blatant attempt at lowering the value mining shares to facilitate a takeover by the the Guptas and the ANC government and is tantamount to high treason, says adv. Anton Alberts, chairperson of the FF Plus.
Last week Wednesday, Zwane published proposed regulations in the Government Gazette under the cover of supposed ‘sustainable development’. These regulations will bring all mining transactions to a halt while the mining industry contributed 8% to the gross domestic product in 2016, despite heavy setbacks.
Adv. Alberts says that should the regulations come into effect, the important contribution made by the mining sector can be erased from the country’s economic landscape. He adds that this is a form of creeping expropriation.
“This policy is clearly not in the best interest of the country or its people and it seems to be unconstitutional as well because it is going to destroy job opportunities and that will, in turn, affect a lot of people’s right to dignity. It can be considered as a form of indirect expropriation in view of the heavy restrictions placed on mining shares.
“There will be no new investments in the industry and that will inhibit much-needed job creation. Zwane’s action is also in conflict with the minister of finance, Malusi Gigaba’s, undertaking to bring stability to the mining sector with his 14-point plan.
“Halting transactions in the mining industry will cause a drastic drop in the value of mining shares. As soon as the restriction is revoked, the Guptas and their expansive ANC network will be able to snatch up numerous mines at much lower prices.
“In effect, Zwane is doing the same thing that Eskom did with the Optimum mine when they forced it into bankruptcy so that the Guptas were able to buy it with money provided by Eskom. The FF Plus is convinced that they are following the same modus operandi in this case.
“The FF Plus is asking the public to strongly oppose the proposed regulations during the process of public participation. The party itself will challenge it during the parliamentary committee process. Should the implementation of the regulations continue, despite these objections, the mining industry will have to turn to the courts to protect their interests,” says adv. Alberts.
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