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Mine nationalisation in the spotlight

Julius Malema,
ANC Youth League
Johannesburg, South Africa — MININGREVIEW.COM — 15 February 2010 – The Congress of South African Trade Unions and the Youth League of the ruling African National Congress are scheduled to meet this week to discuss proposals to nationalise the country’s mines.

ANC Youth League spokesman Floyd Shivambu told Bloomberg News in a telephone interview here that South Africa’s biggest labour federation would meet Youth League leaders on Thursday “’ the day after finance minister Pravin Gordhan delivered his annual budget. The talks might also focus on other issues such as education, he added.

“We’ll discuss how to move forward on a strategy to inform the policy discourse of the ANC,” said Shivambu.

Cosatu “’ whose two million members helped sweep President Jacob Zuma to power last year “’ is backing ANC Youth League president Julius Malema’s call for the government to seize mine assets to broaden the distribution of wealth in the country. Malema wants the government to own at least 60% of mines, to create a state-owned mining company, and to halt issuing of new mining licences until legislation is amended.

According to mines minister Susan Shabangu South Africa won’t nationalise mines in her lifetime.