The New Criterion: Universal Coal, page-20

Yes,

i take your point, i was perhaps being too simplistic, but my point is there is government risk everywhere, here in Australia we have had Rudd try and tax companies out of all proportion as well as state governments closing down some parts of the gas industry with their anti fracking policies.Given that the mining industry is so important to South Africa, with so many big players involved you would think they would act rationally.
Left field events aside i think on balance its a fair risk for reward.