• Rich man, poor man

    Culture change from below is the only way to overcome poverty, says Leopold Scholtz.

  • Tech bubble talk

    After the tech euphoria of 2013, the fast-moving sector has hit a speed bump.

  • Money creation made easy

    Changing the money creation system may be simpler than we think, says Edward Ingram.

Data provided by McGregor BFA
All data is delayed
Loading...
See More

No plans for unsustainable mines - ANC

Jan 17 2013 22:15 Sapa
Mining

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
NEXT ON FIN24X

Rich man, poor man

2014-04-24 07:28

 
 
 

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
115 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

Cope loses members to ANC

President of the Cope Youth Movement, Abel Rangata, and three other Cope members have resigned from the party to join the ANC.

 
 

Latest elections multimedia

11 Julius Malema quotes you'll never forget
DA won't get 30% - Zille
The EFF's ad was banned, see why
Why Jack Parow wants you to vote on 7 May

Money Clinic

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