From the U.K. Telegraph
posted on
Apr 05, 2010 01:07PM
We may not make much money, but we sure have a lot of fun!
By Garry White
Published: 10:05PM BST 04 Apr 2010
The white supremacist leader was hacked to death at his Transvaal farm on Saturday – the same day that a senior member of the African National Congress (ANC) called for the nationalisation of all South Africa's foreign-owned mines.
Speaking in Zimbabwe on Saturday, Julius Malema, leader of the influential ANC Youth League, said South Africa's mines should be returned to black ownership.
Most of the UK-listed miners have significant interests in South Africa, particularly Anglo American, but Rio Tinto, BHP Billiton and Xstrata all have major assets within the country. Anglo American has majority stakes in many of the country's miners, including Anglo Platinum and Kumba Iron Ore. These four mining companies make up more than 10pc of the FTSE 100.
Widespread violence could lead to disrupted mine output, analysts said, potentially causing spikes in some commodity prices.
"This is one of the biggest threats to the South African mining industry today," one senior executive told The Daily Telegraph, although they declined to be named.