ANCYL rejects nationalisation report

2012-02-16 19:52

kalahari.com

Johannesburg - The ANC Youth League has rejected the research report on the nationalisation of mines, its deputy president Ronald Lamola said on Thursday.

"It [the report] did not do what the NGC [ANC national general council] said should be done," Lamola told reporters at Luthuli House in Johannesburg.

"We will soon compile concrete facts and data on how the many countries that have nationalised their strategic sectors of the economy generate additional income into the fiscus and utilise it for the development of the people."

The report on possible reform of the mining sector was presented to the African National Congress's national executive committee at its meeting in Pretoria earlier this month.

The City Press newspaper published details of the report after claiming to have seen it. It said there were two proposals for new mining taxes. One was a 50% tax on the sale of mining rights to prevent speculation.

The other was a tax of up to 50% on so-called "super profits", defined as anything more than a 22% return on investment.

The report proposes a reduction in the royalty tax from 4% to 1%.

Mineral governance could be overseen by a new "super ministry", namely the combined departments of trade and industry, public enterprises, mineral resources, and science and technology.

According to the newspaper, the task team recommended that the ANC investigate state control of mines "in terms of rent share, growth and development, and make targeted interventions to achieve such outcomes".

The team visited 13 countries to investigate mining models and best practices that would be viable for South Africa.

Lamola said: "The research report on the state intervention in the minerals sector... does not in any way respond to the ideological and political directive of the ANC national general council."

He said that according to the resolution from the ANC's NGC there was "greater consensus" within the party on the nationalisation of mines and other strategic sectors of the economy.

ANCYL treasurer general Pule Mabe on Thursday said the league would gather more facts so it could argue its case for the nationalisation of mines at the ANC's policy conference in June.

- SAPA
Read more on:    anc  |  ancyl  |  ronald lamola  |  pule mabe  |  nationalisation
NEXT ON NEWS24X
SHARE:

Read News24’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
16 comments
Add your comment
Comment 0 characters remaining
 

Inside News24

 
/Music
Traffic & Train Alerts
Traffic
Joostenberg Vlakte 19:30 PM
Road name: N1 Inbound

ACCIDENT at Joostenberg

Cape Town 18:17 PM
Road name: Wet Weather

RAIN across the Cape Town area - turn on headlights, reduce speeds and drive with care

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Magical Massinga

Spend 5 nights at the gorgeous Massinga Beach Lodge in Mozambique and only pay for 4 from R13 220 per person sharing. Includes return flights, accommodation, transfers and romantic turndown. Book now!

Kalahari.com - shop online today

Save up to 30% off top fragrances

Get mind blowing savings on selected fragrances. Offer valid while stocks last. Shop now!

Up to 40% off fashion accessories

Save up to 40% on selected handbags, purses, watches, jewellery and more. Offer valid while stocks last. Shop now!

Save up to R2000 on top electronics

Get every day mind bowing savings on top electronics. Offer valid while stocks last. Shop now!

Save up to 50% on Women’s month treats!

Celebrate the awesome women in your life with awesome treats like beauty products, fashion accessories, bestselling books, electronics and more. Offer valid while stocks last. Shop now!

Up to 60% off - clearance sale!

Save up to 60% on appliances, books, electronics, toys, movies and more. Offer valid while stocks last. Shop now!

OLX Free Classifieds [change area]

Samsung Galaxy s4

Mobile, Cell Phones in South Africa, Western Cape, Cape Town. Date October 24

Best bargain in big bay

Real Estate, Houses - Apartments for Sale in South Africa, Western Cape, Cape Town. Date October 25

VW Golf 6, 1.6 Trendline (Excellent condition)

Vehicles, Cars in South Africa, Western Cape, Cape Town. Date October 25

Horoscopes
Aquarius
Aquarius

Today you may want to bond with your children and need to connect to your imaginative and playful side. It may be that you are...read more

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.