ANC mine study rejects SA mine grab – report

2012-02-02 08:02

A study commissioned by ruling party ANC has rejected calls for mine nationalisation and come out in favour of higher taxes and royalties.

The report is expected to be adopted as policy by the ANC and will be raised this weekend at a meeting of the party’s National Executive Committee, the Business Day newspaper reported today, without saying where it got the information.

The report warns against “asset grabs” by the state because such a policy would be unconstitutional and because the government could also not afford to buy mining stakes, the newspaper said.

But the government will also recommend higher royalties and taxes, as well as policies to encourage the processing of raw minerals to add value, the paper said.

Talk of nationalising mines and banks by radical elements in the ANC has unnerved investors.

The policy drive for mine nationalisation lost political momentum after an ANC disciplinary committee found its biggest advocate, ANC youth league leader Julius Malema, guilty of sowing discord in the party.

The committee handed down a five-year suspension which Malema has appealed.

The ANC study on mine nationalisation was first submitted to the party leadership last year but had been sent back for redrafting to improve its presentation. 

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

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
0 comments
Comments have been closed for this article.

Inside News24

 
/Sport

Book flights

Compare, Book, Fly

Traffic Alerts
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.