NEWS

 

Shabangu: Nationalisation talk bad for SA

Johannesburg - South African Mineral Resources Minister Susan Shabangu reiterated on Tuesday that nationalisation of mines was not government policy, but admitted debate about the issue inside the ruling party was hurting investment and job creation.

When asked about mining policy at a breakfast of mining executives, she said: "It's true, government policy is not nationalisation."

She later added that calls for nationalisation by radical elements in the African National Congress (ANC) "do harm in attracting new investments ... and creating jobs".

The ANC's Youth League has been campaigning for nationalisation of mines, saying private companies have failed to spread wealth and control of the economy beyond a small black elite and the white minority that ran the country under apartheid.

 

Source: www.fin24.com

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