HomeBase MetalsSA mines will not be nationalised

SA mines will not be nationalised

Trade and industry
minister Rob Davies
London, England — MININGREVIEW.COM — 04 March 2010 – Nationalisation of South Africa’s mines is not government policy and is unlikely to become so “’ at least not in the immediate future, says trade and industry minister Rob Davies.

The ruling ANC’s militant Youth League has called for the nationalisation of mines, worrying some investors in South Africa, which is the world’s biggest platinum producer and No. 3 gold producer.

“It’s not by any means remotely government policy,” Davies told Reuters on the sidelines of a UK-South Africa business forum here. Asked if it could ever become government policy, he said: “I don’t think it’s imminently so, and I think it’s unlikely to become so, in the immediate future anyway.”

Endorsing this standpoint, mining minister Susan Shabangu repeated that nationalisation was not government policy, and said that ANC Youth League leader Julius Malema must present his position at the party’s national general council.

“The policy of nationalisation doesn’t exist in South Africa,” she told the business forum.

“South Africa is a democratic country and an open society, and everyone has the right to raise any aspect under the sun,” she said.

“But South Africa is part of the global world, it’s part of the global community, and on that basis South Africa cannot go back and work against the world,” she said to applause from business executives in the audience.