S Africa considers declaring certain minerals as 'strategic'

Let's hope that they do indeed declare Coal a strategic mineral, as I think, its the only way we will see $1 again lol.  Interesting times ahead for most of us here, I will hang around for another 18 months, wait and see what happens with finance, as well as the market for Coal.  It's no good selling out now, as most of us here have invested in CDS/RES at a higher sp then the current sp of 12c.

I still believe that PJ is the right man for the job, and that the mine will open one day.......but will I see it happening?...or will my kids see it happening is the 64 dollar question I suppose.

Anyway until next time all have a great week ahead.


14th October 2014

South Africa's mines minister Ngoako Ramatlhodi said he was considering declaring certain minerals such as coal and iron ore as "strategic" for the country.

"We haven't classified any, but it is provided for under the mineral bill, which is before the president. If that bill is signed into law, then it will give the minister the ability to declare certain minerals strategic for purposes of industrialisation in South Africa," he said.

Under the bill, such minerals "will be sold for production costs excluding transportation. That is the mine-gate price. And the industry is comfortable with that, because they negotiated that formula," he said.

He would not be drawn categorically on what he will declare strategic but said, "Iron ore is obvious and coal, because coal fires our power stations."

He added, "There is coal for export and coal of a lesser quality, which stays in the country. That we would want to keep for our power stations."


http://www.reuters.com/article/2014/10/14/us-safrica-mines-minister-idUSKCN0I31QQ20141014