Jacob Zuma Launches African Exploration Mining in Ogies
The head of the new South African state mining firm has admitted that it will struggle to operate without private money. CEO of the African Exploration Mining and Finance Corporation Sizwe Madondo says it is prepared to sell up to half of the interests in new projects to private investors.
The state company wants to give the government a firmer hand in mining and will initially concentrate on coal.
ABN’s Chris Bishop was at the launch of the company in Ogies in Mpumalanga at the weekend and filed this report.
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