When I looked at this article regarding De Beers purchase in July of this year, it's these 2 paragraphs that stuck out for me.

https://business.financialpost.com/commodities/mining/de-beers-makes-rare-acquisition-buys-canadian-diamond-mine-in-81-million-deal

 ..."De Beers rarely buys assets, partly because it owns some of the best gem mines in the world. The company has been seeking to increase its exposure to Canada to lessen its dependence on its traditional southern African assets. "

..."Canadian production has long helped give De Beers leverage when it negotiates sales rights with host governments in southern Africa, especially Botswana, where its two biggest mines are located."

And look at this article from today...

https://www.lexology.com/library/detail.aspx?g=4c46cd3b-6afc-459c-8017-98e7a566ab83

South Africa is no exception to the nationalisation trend. On 15 June 2018, the draft Mining Charter III ("Draft Charter") was released for public comment. The Draft Charter which, if implemented, will apply to both existing and new mining rights, calls for an increase in local ownership to a 30% shareholding by Broad-Based Black Economic Empowerment qualifying persons as well as a hike in the social contribution and tax obligations of mining companies.

This increase in local ownership requirements and obligations has not been met with overwhelming support, in that the Draft Charter is viewed as a document which does not balance local initiatives and sustainability of the industry. The increased costs obligations of mining companies in South Africa will result in a consequential increase in overheads and thus a potential for investment withdrawal (and deterrent) and the shutting down or scaling down of mines. The closing of mines or at the very least certain shafts will likely hugely impact the economic landscape of the country and such impact will be felt more heavily by the mine workers and mining communities whom the legislation is seeking to uplift, with negative implications for the long-term growth of the mining industry.

This trend is accompanied by either increased discussions between large mining companies and African governments (leading to investor uncertainty) or disinvestment of certain local operations such as the disposal by Anglo America of certain of its mines in South Africain recent years and the potential withdrawal from Tanzania by Acacia Mining if the talks with the Tanzanian government are unsuccessful.

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Going back to the De Beers example, it sure would put Glencore in a better negotiating position with South Africa    .....if it invested in the ROF.

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