The New Criterion: Universal Coal, page-19

There's not as much sovereign risk in South Africa as there is an Australia? Well, we may have power issues but we're not mandating black ownership percentages on companies and we don't have significant political movements to nationalize private entities. So far, we've been sort of lucky with some of the more notable proponents for nationalization (e.g. Malema) getting pinged for their own corruption. Then there's the shady issues with Government companies (e.g. Eskom) doing shady deals, plus all sorts of corruption at all levels. All you need is one crazy person in the sort of style of Mugabe to come in and full steam ahead for mining and bank nationalization.