ANC YOUTH LEAGUE STATEMENT ON THE CALL FOR A MINIMUM OF 60% OF ALL MINES TO BE TAKEN BY THE STATE:
Most Media Houses have reported about ANC Youth League President Julius Malema's re-assertion at the ANC Youth League Gala Dinner in Mpumalanga that the State should take a minimum of 60% of all Mines as part of the proposed models on Nationalisation of Mines in South Africa (see City Press report).
It is however unfortunate that most media houses report about this as if the President has called only for Anglo American to give 60% of its shares to the ANC Youth League. This reporting is incorrect and shows the mediocrity that defines South Africa's print media, because the various discussion documents and policy positions the ANC Youth made public clarify the 60% Nationalisation of Mines model proposed by the ANC Youth League.
In the proposed model for Nationalisation of Mines, the ANC Youth League said in the original document on Nationalisation, submission to the Parliamentary Portfolio Committee on Mining and many other public pronouncements that Nationalisation of Mines in South Africa should entail that after its establishment, the State Owned Mining Company should take a minimum of 60% of the existing privately owned mining corporations.
The minimum of 60% of all privately owned mining companies will be taken by the State, not the Youth League, and will be taken from all privately owned mining corporations, not only from Anglo American as portrayed in the Media. The remaining maximum 40% will be owned and controlled by the private corporation and should be compliant to the Mining Charter requirements and all legislation that govern minerals and mining in South Africa, particularly the Mineral and Petroleum Resources Development Act and the Mineral and Petroleum Resources Royalty Act.
In his address to the ANC Youth League Gala Dinner in Mpumalanga, ANC Youth League President spoke about this model of Nationalisation of Mines and even gave example that in Botswana, De Beers and Botswana Government share 50% apart of all Diamond Mining operations. This example should have enlightened those who are reporting about the 60% demand to understand that the 60% will be given to the State to own and control on behalf and for the benefit of all the people of South Africa.
The people of South Africa will substantially benefit from Nationalised Mines because the State will generate additional revenue for provision of basic services, and will ensure that millions of jobs are created through local beneficiation and industrialisation of Mineral resources. The working conditions and salaries in State Owned Mining operations should also be far much better and higher than in private mining corporations.
The ANC Youth League will with patience explain and educate the whole of society and the media on the models of Nationalisation of Mines and how it is going to benefit majority of the people of South Africa. Nationalisation of Mines will be decided by the ANC 53rd National Conference in 2012, and the whole of society is called upon to pay particular attention to this important question so that we are all on the same page when it happens.
Statement issued by the ANC Youth League, March 7 2011
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