ANC Youth League nationalisation call could plunge mining into a deep pit
SA is once again flirting with mine nationalisation. The ANC Youth League has come back to this demand, while former Congress of South African Trade Unions president Zwelinzima Vavi thinks this intervention would meet activist demands for free university education.The ANC Youth League pushed strongly for mine nationalisation when Julius Malema was its president. However, the ANC policy conference in June 2012 decided against it, partly because compensation payments could amount to an unaffordable R1-trillion under SA’s bilateral investment treaties with the UK and 12 European countries.But the treaties have since all been terminated, and the league is again pressing for mine nationalisation. In September, it said there had long been "strategic need for the nationalisation of mines". It also demanded to know when a 2016 bill establishing a state mining company would be enacted, adding: "As soon as it is operational, [this company] must take up ownership and control of [the] greater m...
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