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Drop nationalisation call - Shabangu

Mineral Resources Minister Susan Shabangu has warned that the call to nationalise mining companies should be dropped, City Press reported on Sunday.

The ANC's Mangaung conference in December is expected to deal with the issue of nationalising strategic assets, such as mines.

Susan Shabangu Minister of Miniral Resources. Photo: Leon Nicholas. Credit: INLSA

“The biggest issue when it comes to policy issues is whether Mangaung will nationalise (mines). We've dealt with that issue, but (investors) continue to raise it,” Shabangu was quoted as saying.

“We are confident that when we come out of Mangaung we will be able to put this matter aside and it will bring and instil much more investor confidence.”

Shabangu was concerned that protracted strikes in the mining sector had dented investor confidence.

“It has been a cause for concern because it's not a once-off; it is sort of spiralling in the mining industry,” she reportedly said.

Shabangu's comments followed an emergency meeting on the economy called by President Jacob Zuma on Friday night and involving government, business and labour.

He called on business and labour to work together to find solutions and was concerned by violence associated with strikes.

“We are confident that working together we will be able to find solutions, informed by the Constitution and the values of our democracy. We have a long history of productive social partnerships in our country,” he said. - Sapa

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