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‘No more Auroras’, NUM warns new BEE group
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Luphert Chilwane
Business Day
Monday, May 24, 2010
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The National Union of Mineworkers yesterday welcomed a consortium of black investors into a newly established uranium mining company, Shiva Uranium, led by President Jacob Zuma’s son, Duduzane.
But it warned the consortium not to fall into same trap as black investment outfit Aurora Empowerment System, chaired by the president’s nephew, Khulubuse Zuma, which has struggled for months to pay thousands of workers.
“We welcome anything that will advance the empowerment of black majority, but not in a form of Aurora,” said union spokesman Lesiba Seshoka.
Jagdish Parekh, CEO of Shiva Uranium, bought from Uranium One, said the company expected to start production at the Dominion uranium project in Klerksdorp before the end of this month.
He said a consortium of black investors, which included Mabengela Investments, headed by Zuma, the MK War Veterans’ Women’s Group, the MK War Veterans, the local community as well as employee trusts, had acquired 26% of the company from Oakbay Resources and Energy, through a fully vendor-funded transaction.
He said it would be unfair to compare Shiva with Aurora as Shiva was a business built on a “broad-based component”.
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