Ivanhoe Mines’ Kamoa-Kakula achieves record copper production in October
Copper production from Kamoa-Kakula now totals 345,042 tonnes for the year.
South Africa’s former President Jacob Zuma’s newly formed party vowed to nationalize land and banks, withdraw from the International Criminal Court and expand the social security net in its campaign manifesto released before May 29 elections.
Opinion polls show the Umkhonto WeSizwe Party cannibalizing support from the ruling African National Congress of which Zuma remains a member. They also show the ANC, which has governed South Africa since the end of apartheid in 1994, may lose its majority for the first time.
The MKP’s plans are similar to those of the nation’s third biggest party, the leftist Economic Freedom Fighters. The EFF’s leader, Julius Malema, has indicated that it would be open to align with the MKP to form a left leaning bloc.
Zuma, who led South Africa for nine years marred by scandal including allegations of large-scale corruption and the looting of billions of dollars of government funds, is popular in KwaZulu-Natal, the second-most populous province. He’s denied wrongdoing and hasn’t been indicted on the accusations.
Zuma has also drawn crowds to rallies in Gauteng, which has the highest number of registered voters.
Over the weekend, Zuma said he was open to work with like-minded parties in a WhatsApp voice note, in which he apologized for not attending two rallies in his home province of KwaZulu-Natal in which thousands came to see him.
“If we have any differences, it is fine but not on the fundamentals of this country and changing the lives of black people for the better,” Zuma said in the 10-minute recording. “Even if we vote differently for now but after the election we must get together and talk, including those who are not yet sold on the vision and those we have not yet been able to approach, they must know that they must come back so we can work together so we can shape this country.”
Like the EFF, the MKP is also advocating for the nationalization of the central bank and the establishment of a sovereign wealth fund.
“The narrow mandate of the partially foreign-owned South African Reserve Bank is not supportive of economic diversification and industrial growth,” the manifesto said.
Where the two parties differ is on the scale of nationalization. MKP wants to nationalize all major lenders and mines, Malema has said that state-owned banks, mines and schools would compete with those operated by the private sector.
The MKP will also withdraw from a pact to move away from coal as the primary source of the country’s energy, saying it will renew the existing fleet of coal-fired power stations and accelerate a nuclear program.
Other plans in the MKP’s manifesto include:
(By S’thembile Cele)
Read More: African critical minerals output could reach $2 trillion by 2050
Comments