The Mining Industry Is Terrified By The Rise Of South Africa's Julius Malema


Today, Julius Malema removed a BBC journalist from his Africa National Congress Youth Leage press conference, calling him a “bastard” and an “agent.”

Malema, fresh off of a meeting with Zimbabwean President Robert Mugabe, has said he will follow his neighbours policy of land seizure, if his rise to power continues.

And, most concerning to foreign investors, he has called for the nationalization of South Africa’s mines.

South Africa’s mining industry produced 11% of the world’s gold, 80% of the world’s platinum, and 40% of the world’s palladium in 2007.

Malema is young in the world of South African politics, but at the age of 29, he is already being considered a vocal threat to the ethnic stability established through Nelson Mandela’s Rainbow Nation movement.

Malema is taking advantage of the world’s eyes, with the World Cup in South Africa beginning in June. But if Malema uses the ANC Youth Congress as a stepping stone to government he could become a real threat to metals markets.

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