CONFIDENTIAL DRAFT: Not to be copied, distributed or cited 17 February 2012 Page 1 Maximising the developmental impact of the people’s mineral assets: STATE INTERVENTION IN THE MINERALS SECTOR Report prepared for the ANC Policy Institute
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CONFIDENTIALDRAFT: Nottobecopied,distributedorcited
17February2012 Page1
Maximisingthedevelopmentalimpactofthepeoplesmineralassets:
STATEINTERVENTIONINTHEMINERALSSECTOR
ReportpreparedfortheANCPolicyInstitute
CONFIDENTIALDRAFT: Nottobecopied,distributedorcited
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ContentsSTATEINTERVENTIONINTHEMINERALSSECTOR ...........................................................................1
DRAFTTERMSOFREFERENCE: .....................................................................................................11
Introduction...............................................................................................................11
AbouttheProject .......................................................................................................11
KeyActivitiesoftheProject.........................................................................................11
ProjectTeam..............................................................................................................11
HistoryofMininginSouthAfrica .................................................................................................11
FROMFREEDOMCHARTERTOPOLOKWANEANDBEYOND: .........................................................11
ANCPOLICYDEVELOPMENTAND STATEPOLICIESIN MININGIN THEPOSTAPARTHEID ERA .........11
ANCMineralsPolicyDevelopment...............................................................................11
TheFreedomCharter(1955)....................................................................................11
ReadytoGovern(1992)...........................................................................................11
ReconstructionandDevelopmentProgramme(1993) ...............................................11
PolokwaneResolutionontheEconomy:December2007...........................................11
DebatewithintheANC............................................................................................11
GovernmentPolicyonMineralsDevelopmentpost1994..............................................11
DepartmentofMineralsandEnergy,GreenandWhitePapers,1998:AMineralsandMiningPolicyforSouthAfrica,1998.........................................................................11
ImportantLegislation..................................................................................................11
TheMineralandPetroleumResourcesDevelopmentAct,2002 .................................11
TheMineralandPetroleumResourcesRoyaltyAct,2008,..........................................11
TheMiningCharter.....................................................................................................11
DepartmentofMineralResources:AmendmentoftheBroadBasedSocioEconomicEmpowermentCharterfortheSouthAfricanMiningandMineralsIndustry,2010..........11
StateInterventionintheMineralsSectorBefore1994 .................................................................11
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Historicalstateinterventioninthemineralssector.......................................................11
Background................................................................................................................11
GovernmentIntervention ...........................................................................................11
Taxation..................................................................................................................11
Interventioninthelabourmarket ............................................................................11
Controllingthesalesofminingoutput......................................................................11
PriceControl...........................................................................................................11
Interveningtopursuegovernmentpoliticalinterests.................................................11
Interventiontosupportminingoperations ...............................................................11
Otherformsofintervention.....................................................................................11
THEROLEOFSOEsIN MINERALSPRE94 ......................................................................................11
Introduction...............................................................................................................11
OriginsofAfrikanerCapital..........................................................................................11
2.1 PromotionofAfrikanerCapital........................................................................11
2.2 TheFocusonLargeScale ................................................................................11
3. InterestGroups ..................................................................................................11
4. GovernmentPolicyinMECIndustriesinRelationtoEnglishandAfrikanerCapital..11
4.1 FinancingofMEC andRelatedOperations........................................................11
StateCorporations ..................................................................................................11
BirthofSpecificSOEsinSA..........................................................................................11
ISCORandESKOM...................................................................................................11
Alexkor ...................................................................................................................11
CentralEnergyFund(CEF)........................................................................................11
TheCEFGroup............................................................................................................11
TransportationNetwork(Transnet) .............................................................................11
Conclusion .................................................................................................................11
SouthAfricasMineralResources.................................................................................................11
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TheRoleofMiningandtheMineralsEnergyComplex(MEC)intheSouthAfricanEconomy..........11
TheMineralsEnergyComplex.....................................................................................11
Investment .............................................................................................................11
Trade......................................................................................................................11
Employment ...........................................................................................................11
TheMEC:Origins,RestructuringandTrends.................................................................................11
Goldanduranium.......................................................................................................11
Goldminingrestructuring19482010 .......................................................................11
Evolutionofconglomeratestructure ........................................................................11
AngloAmericanunbundlingandreversingoffshore...................................................11
Anglogold ...............................................................................................................11
Harmony.................................................................................................................11
GoldFieldsofSouthAfrica(GFSA) ............................................................................11
Gencor....................................................................................................................11
Anglovaalunbundlinganddemise............................................................................11
JCILimited ..............................................................................................................11
RandGoldandExplorationRandMines..................................................................11
Goldanduraniumconclusions...............................................................................11
Platinum....................................................................................................................11
Platinumproductionhistory.....................................................................................11
AngloAmericanPlatinum(Amplats).......................................................................11
ImpalaPlatinumGencor ........................................................................................11
FromLonrhotoLonmin ...........................................................................................11
NorthamPlatinum...................................................................................................11
RoyalBafokengHoldings..........................................................................................11
PlatinuminSouthAfricaanditsroleintheMEC........................................................11
Conclusionsandpeculiaritiesofplatinummineralrights............................................11
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Platinumconclusions.............................................................................................11
Coal,Elec
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