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ANC Youth League welcomes cabinet resolution on the establishment of state owned Mining Company

10 December 2010

The African National Congress Youth League welcomes South Africa`s 8th December 2010 Cabinet decision to hasten the establishment of a State Owned Mining Company in line with the ANC 3rd National General Council resolutions. The ANC August 2010 NGC resolution on the State Owned Mining Company says, "The NGC urged government to expedite the establishment of a state mining company to consolidate all assets of the state in mining. The mining company should be given a mandate to consider various forms of ownership including partnerships with the private sector".

The ANC Youth League believes that Cabinet`s decision to separate the African Exploration, Mining and Financing Corporation (AEMFC) and make it the nucleus of the State Owned Mining Company perfectly fits into the programme the ANC Youth League is pursuing on nationalisation of Mines and other strategic sectors of the economy. The ANC 2012 Policy and National Conferences will then finalise the best model on how the State takes ownership and control of South Africa`s Mines. This will be consistent with the resolution that "There was greater consensus in the commission on the nationalisation of mines and other strategic sectors of the economy. The NGC therefore mandated the NEC to ensure further work be done, including research, study tours and discussions, and to report to the Policy Conference for decision at National Conference in 2012".

The ANC Youth League appreciates the reality that the establishment of a State Owned Mining Company constitutes the elementary building blocks of economic freedom in our lifetime and realisation of all Freedom Charter objectives. The ANC Youth League also appreciates that on strategic issues, Cabinet is guided by the policy directives of the African National Congress, unlike in the past.

Issued by the ANC Youth League