"The situation underscores a crucial issue: if the DMRE condones construction without obtaining consent from existing mineral and petroleum right holders, it could lead to a scenario where all mineral and petroleum rights in South Africa are subordinated to developments on the mining right area or production area, regardless of the fact that these rights are lawful limited real rights that were first in time. This may effectively amount to the dispossession of mineral and petroleum rights and result in a precedent that is entirely contrary to the objectives of the MPRDA."
I wonder how the above would impact Motsepe`s gold and other mining investments:
Dr Motsepe is the founder and Chairman of Ubuntu-Botho Investments, African Rainbow Capital (ARC), African Rainbow Energy and Power (AREP) and UBI General Partner Proprietary Limited. He is also the Deputy Chairman of Sanlam and Chairman of Harmony Gold.
It looks like he has alot to lose as well...watch this space.
RLT Price at posting:
66.0¢ Sentiment: Buy Disclosure: Held
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