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No comment on ANC nationalisation study

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Malema111012

AFP

ANC Youth League president Julius Malema.

The ANC on Thursday declined to comment on reports that a study it commissioned discourages the nationalisation of mines.

“We are not commenting on that report. The matter will be presented to the NEC (national executive committee) sometime during the meeting,” party spokesman Keith Khoza said on the sidelines of the five-day get-together of party officials in Pretoria.

Business Day reported that the study, compiled by three economists, found nationalising mines would be unconstitutional. It concluded the government could not afford to buy stakes in mines. The study apparently recommended an upward revision of royalties and tax regimes, the newspaper reported.

A separate report by the ANC’s economic transformation committee, which also reportedly opposes nationalisation and calls for greater beneficiation, was expected to be discussed by the NEC.

Khoza said all reports had been submitted and would be scrutinised at the meeting.

The committee began its first meeting on Thursday with no sign of suspended African National Congress Youth League leader Julius Malema. Malema had been spearheading calls for nationalisation. He was expected to attend, said Khoza.

He said President Jacob Zuma presented his overview to the NEC in the morning. ANC chairwoman Baleka Mbete was expected to table a report on the party's centenary celebration. Other matters to be discussed included education, health, and social development.

ANC spokesman Jackson Mthembu said these were some of the areas needing policy review. ANC leaders would discuss these matters with the intention of creating jobs and a better life for South Africans, he said.

Draft policy documents, which South Africans could comment on, would be released soon after the conclusion of the meeting, and ahead of the party's policy conference in June. - Sapa

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Anonymous, wrote

IOL Comments
03:36am on 3 February 2012
IOL Comments

Okay - so now the ANC are not going to nationalize the mines any more - now they are going to simply tax them to death. Either way, watch the mines close down and jobs be lost. Why do you think De Beers has sold off a lot of its mines (Finsch, Premier etc.) , Openhiemer family have sold their shares etc.? Its simple they are getting out of mining at a profit whilst you still can. The new buyers are simply hoping and gambling the inevitable by the ANC government will not happen.

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warren, wrote

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10:53pm on 2 February 2012
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`great nationalise the mine lets look at the government departments that works. Top of the list Eskom just waited 2 hours in a line for electricity with no luck. Eskom give yourself a pat on the back because you are getting non from me.

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Anonymous, wrote

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09:33pm on 2 February 2012
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What was the effect on the poor in Venezuela after nationalisation of oil by their government

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Sean Hearn, wrote

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07:03pm on 2 February 2012
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''...the study, compiled by three economists, found nationalising mines would be unconstitutional. It concluded the government could not afford to buy stakes in mines...'' - what a shocker! what will happen though is that the Govt. will TAKE (without compensation) the mines, or force mines into part-ownership (similar to what's happening in ZIM) and then we'll have an entire mining sector heading down the Aurora road. Awesome!!!

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Grant P, wrote

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06:57pm on 2 February 2012
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"a better life for South Africans" - yeh right, does that include the public or just South African politicians??

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correspondent, wrote

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06:56pm on 2 February 2012
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its just bbbbbbbbbbbbeeeeeeeeeeeeeee, making a few black diamonds and close comrades , that's all

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