• Road to riches

    Taxpayers keep funding structures with big plans but who knows what efficacy, says Mandi Smallhorne.

  • Don't fall for Ponzi scams

    An expert unpacks the tell-tale signs to watch out for.

  • Inside Labour

    A smokescreen of misleading rhetoric won't make SA's problems go away, says Terry Bell.

See More

No plans for unsustainable mines - ANC

Jan 17 2013 22:15 Sapa

The ANC rejected the idea of wholesale nationalisation at Mangaung in December. (File) (Shutterstock)

Related Articles

Nationalise Amplats mines - Amcu

Amplats: CEO cites JSE rules

Premier to hold talks with Amplats

ANC: Nationalisation 'off the table'

ANCYL plots nationalisation strategy

ANC rejects nationalisation

Pretoria - The government has no plans to nationalise unsustainable mines, ANC secretary general Gwede Mantashe said on Thursday.

"Let me tell you why [these mines] should be put up for public auction. Let me give you the logic. If government takes over liability, that is not nationalisation," he told reporters on the sidelines of an ANC national executive committee (NEC) meeting in Pretoria.

"We are inheriting liabilities from capitalists who have made money and want to run away from responsibility that goes with the end of life of a mine."

The ANC rejected the idea of wholesale nationalisation at Mangaung in December.

Mantashe was responding to a statement by the Association of Mineworkers and Construction Union (Amcu) on Thursday that the government should nationalise Anglo Platinum [JSE:AMS] (Amplats) if it continued with the proposed retrenchment of 14 000 workers.

"If Anglo persists with the retrenchments, it's a window for government to take those mines and nationalise them," Amcu president Joseph Mathunjwa said.

Amplats announced this week it planned to stop production at four of its shafts in Rustenburg, which could result in the loss of 14 000 jobs, and to sell a mine which was considered unsustainable.

As a result, workers embarked on a strike at Amplats mines and refused to go underground on Tuesday.

The Amplats announcement came after Harmony Gold said it was suspending operations at its Kusasalethu mine in Carletonville, to review operations after several illegal strikes.

Mantashe said the ANC had made a proposal to the mineral resources department that shafts which had become unsustainable, or been "mothballed", be put up for auction.

"[The proposal was] that mines with mothball shafts must actually give up their licences for those shafts and those shafts must be put up for public auction for companies that want to operate it."

Mantashe called the retrenchments insensitive.

"The question of Amplats destroying 14 000 jobs at a go is actually mischievous and insensitive."

The ANC's NEC would elect its national working committee over the next two days.

"There are two issues [to be addressed during the meeting]: political overview and the election of the national working committee," he said.

The meeting in Pretoria was a continuance of the NEC's first meeting in Durban on January 11.

Mantashe said the ANC would hold its national lekgotla from January 30 to February 2.

"This is the mid-term report about our performance in respect of the five priority areas."

The lekgotla would be held to "streamline" the implementation of the Mangaung conference resolutions.

Senior party members would meet the ANC Youth League next week, Mantashe said. He declined to elaborate.

"There is a meeting on Monday with the ANC Youth League. Full stop."

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

amplats  |  jobs  |  mines  |  nationalisation


Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Add your comment
Comment 0 characters remaining

Company Snapshot

We're talking about:


Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

People who fall victim to Ponzi scams are:

Previous results · Suggest a vote