Unlike the Bafokeng, the amaPondo didn't have the 'good' fortune to be dispossessed of their land at any point in their history; so in terms of the ideals of the freedom charter the riches belong to 'all' the people of SA. Ha ha. So sadly twisted. But not only does the community not receive a 22% royalty in perpetuity: the illegitimate and destructively opportunistic Xolco has to pay > R188 million for their 26% BEE share of the concession. Enough to pay for all the prospecting and most of the infrastructure costs, I'll warrant. So MRC will have effectively been given the land, the cows, and the dairy equipment for nothing! What in hell does one call that kind of sacrificial "cash cow"?
Ehlobo Heavy Minerals were the original BEE partner who pulled out over the social and environmental controversy. They were to pay just R10 million for a 50.05% majority share, and contribute a further ± R30 million in capital funding.
Heavy dirt lies over someone's self-vested, blatantly corrupt deal sweetener here. It may not be proven illegal, but it's highly unethical and immoral. Who renegotiated that R150 MILLION discount, and for what kickback?
Please revisit the page and Invite Friends to sign. You can only send out 25 invites at a time, but just refresh the page and send out more. Rinse, repeat. :)
Please take a stand and tell your friends why this is important.
We need your committed support to keep this petition rolling!
Please watch this video for more insight into what's at stake: http://vimeo.com/12582565