When Shabangu was in Australia for the ADU conference in late 2010, she said that the ANC would not introduce a MRRT, and she criticized the Australian government for going down this path. Her words were something like "South Africa would be crazy to introduce a MRRT" - so the 50% figure may just be thrown out there to placate the Malemas of the world. SA is having a very difficult time attracting foreign direct investments to develop it's economy, so I strongly doubt that they will introduce such a punitive tax. That said, many other countries seem to be following the ALP example, by raising taxes on miners.
For now I'm happy that the bloody nationalization debate is being put to bed. But we don't want one headache to be replaced with another!!
CCC Price at posting:
20.5¢ Sentiment: LT Buy Disclosure: Held
