Keynote address by His Excellency Jacob Zuma, President of the Republic of South Africa, to British Parliamentarians; Palace of Westminster, London, March 4 2010:
"Let me use this opportunity to state that South African law does not provide for the nationalisation of mineral resources, and there is no discussion within government about the nationalisation of mines.
Our Mineral and Petroleum Resources Development Act gives effect to the notion of State custodianship of mineral rights.
The law recognises the mineral wealth as a national asset, a common heritage that belongs to all in South Africa and pronounces the State as the custodian thereof."
Remarks by His Excellency Jacob Zuma, President of the Republic of South Africa, at the Lord Mayor's Banquet; Guildhall, London, March 4 2010:
"We are aware that the United Kingdom is host to the bulk of mining investment companies in South Africa, and is also home to fund managers and mining analysts.
We believe that foreign direct investment finds a comfortable home in South Africa given our stability and predictability with regards to policy.
The policies we are implementing now were adopted in 2007, at the ruling party's national conference after a long policy making process. This time-honoured tradition continues to serve us well.
South Africa therefore offers policy stability and predictability at all times. I would therefore like to allay the concerns of those who may be worried about the reports and debates, especially by the youth of the ruling party, on the nationalization of mines.
There is no law that authorizes the South African Government to nationalize mines or mineral resources. The nationalisation of mines is not government policy at all.
Nothing has changed in this regard."
Address by His Excellency JG Zuma, the President of the Republic of South Africa, to the South Africa-United Kingdom Business Forum Seminar at Drapers Hall, London, March 5 2010:
"Ladies and gentlemen, the mining sector contributes about 5% of our GDP, and employs about 500 000 people. It is the main foreign exchange earner for South Africa.
The sector is dominated by the platinum group of metals, followed by gold and coal. We would like to reiterate here, as we have done in other forums during this visit that the nationalisation of mines is not government policy and there is no law that authorises the nationalisation of mineral resources.
The Mineral and Petroleum Resources Development Act recognises the state as the custodian of all natural resources in the country and regulates the approval and renewal of mineral rights and licences.
It is important to also emphasize that while the policy on minerals and mining that we have, does not make provision for nationalisation of mining assets, it also does not preclude the State from participating actively in mining. That is why the African Exploration, Mining and Financing Company a wholly state owned company, is active in this industry.
Source: www.thepresidency.gov.za
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