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Cape Town - Mines Minister Susan Shabangu on Tuesday moved to allay investor concerns that there may be a shift in South Africa's mines policy.
Speaking during a press conference on the site of the Mining Indaba, Shabangu was emphatic about the fact that there would be no change to the country's minerals laws and she dismissed talk of the nationalisation of the country's mines as the youth (flexing muscles intellectually).
"In my lifetime there'll be no nationalisation," said Shabangu.
The ANC Youth League on Monday renewed its call for the nationalisation of mines by putting forward a document detailing how it would go about this process. ANCYL said in its latest document that nationalisation may involve "expropriation with or with or without compensation."
Shabangu said South Africa was a democracy and the constituents were free to debate issues of political importance.
But, she said these debates did not inform govt policy.
South Africa's president Jacob Zuma and deputy president have already stated that there will be no change to the country's policy and that nationalisation is not yet on the cards. "Nationalisation is not a government policy," Shabangu said.
- I-Net Bridge
