The front page of today's The Mercury "Mining tycoons back Malema" confirms a concern the SACP has consistently advanced over the last year. The story refers to support given by prominent BEE mining beneficiaries to the ANC YL's version of mining nationalization.

The SACP has consistently supported effective state intervention into the economy, including in the critical minerals sector. Such intervention can include a wide range of modalities, including consolidating of existing state owned operations, leveraging of ownership over resources to ensure beneficiation and environmental sustainability. Any decision on appropriate modalities needs to be grounded in the priorities of placing our economy on to a new job-creating and equitable growth path.

In addressing economic transformation and state intervention, we need to ask whose class interest a particular policy is actually advancing. The SACP supports nationalization that will benefit the worker and the poor of our country.

The SACP believes that some versions of "nationalization" are wittingly or unwittingly advancing the narrow class interest of a small BEE capitalist stratum. This conviction is confirmed not just by stories like those appearing in today's Mercury, but also by the way in which BEE mining magnates, like EXXARO, have been providing resources, including a helicopter, for use by the ANC YL's President to advance a particular agenda.

Statement issued by the SACP, September 23 2010

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