I shudder at the prospect of newly minted graduates owning large slices of big corporations! Young engineering graduates require years of relevant on the job experience before they can become professional engineers. They require a lot more to gain sufficient experience before they are fit to do serious management of multi-billion rand corporations. This is not a racial statement. It applies to all young graduates. 
Clearly the minister has a lot to learn about his job. Yes, we get experience when we learn from mistakes. But in the real world people who make big mistakes rightly get fired and taken out of the management system and their careers are ruined. The trick is to learn from the mistakes made by others. Unfortunately some folk prefer to barge on in blissful ignorance and make their own big mistakes. But then accountability is not exactly the ruling party's forte, so maybe the Minister will get promoted after wrecking the mining industry?