They might be in Dubai but the Guptas did not leave SA

By Daniel Sutherland.

They might be in Dubai but the Guptas did not leave SA
Tsotsi Jacob Zuma.

They might be in Dubai, in their new house of almost R500 million, but they are still very much involved in this country.

How did they get the money out anyway?

I just want to refer you to the front page of the New Age newspaper of today. It features the nuclear deal on its front page.

Why would they feature the nuclear deal so prominently, if they don’t stand to make money from it?

And they do stand to make money from it?

How, you might ask ? Just look at their Shiva Uranium mine, previously the Dominion mine, which they picked up for next to nothing, with the help of the [Industrial Development Corporation] IDC.

As you might be aware , Duduzane Zuma is a business partner of the Guptas, and will after restructuring own 9.5 % of Shiva Uranium. The Gupta family the rest.

The Shiva Uranium mine is currently worth R16.7 billion on the JSE, and that would give Duduzane a share of almost R1.4 billion.

But the mine is definitely not worth that amount. Not unless the Zuptas know something that we don’t.
Shiva Uranium mine can only produce uranium profitably at around 100 $ USD /lb, and the current price for uranium is around 30 $USD/lb.

So the mine is unprofitable.

Unless Rosatom buys out Shiva, at that current over inflated value, as a quid pro quo for the right to build nuclear stations in this country, and then it can just pass on the extra expense to the SA taxpayer.

Then, and only then, the Zuptas can lay their hands on the Shiva billions.

Might explain the New Age front page of today.

Daniel Sutherland

South Africa Today – South Africa News