HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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News in March



A percentage, should belong to the people

ANC president Jacob Zuma yesterday vowed that the incoming administration would revoke mining licences of companies that failed to develop communities where minerals are mined.

Zuma was speaking on the campaign trail in the platinum-rich area of Sekhukhune, Limpopo, when he launched a scathing attack on mining companies for “taking” the country’s wealth and “doing nothing” for communities. Zuma, dubbed the “Black Jesus” in the area, told more than 60000 people gathered at a rally at Jane Furse stadium: “They [mining companies] are supposed to do certain things and they are not doing it. I think the government must have an enforcing mechanism to ensure that they do. And when they don’t they must lose their licences … “Why not make laws that say if platinum is mined here, a particular percentage, by law, belongs to the people?” Zuma said that the incoming administration would make it law that community trusts are set up to ensure that communities situated in mineral-rich areas get a set percentage of the mining profits. “We need to be aggressive with this question. We need to act and ensure that we benefit from our mineral resources. I don’t buy that they will be angry and then disinvest,” he said. Zuma also reiterated previously announced plans for a special monitoring system designed to ensure that civil servants perform their duties diligently.

“If we are a leadership that does not do things properly then we must be dealt with. We are not going to deal with people who believe they are entitled to positions. The performance-monitoring system that will be set up in the presidency is especially for that — to make sure that people who are not best suited for certain positions should make way,” he said. Zuma said the ANC would prove to Cope leaders that it would attain “more than two-thirds majority” and not abuse that power. “The constitution they talk about; we were at the forefront of it. We have had a majority and never even tampered with the constitution. What would make us do that now?” he asked.

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