No blanket nationalisation of mines - President Zuma

Pretoria - President Jacob Zuma reiterated on Friday that South Africa rejected the proposal of a blanket nationalisation of mines, saying instead the focus would be on proposals that seek to ensure the country benefits more from mining without disrupting the sector. 

"...a view is emerging that the state should play an increased role in selected minerals that are considered strategic to the development of the country," Zuma told diplomats in a meeting in Pretoria on Friday. 

Zuma hosted the meeting with high commissioners and ambassadors as part of on-going efforts to strengthen relations between Pretoria and global countries. 

The debate arose from a proposal by the ANC Youth League for government to nationalise mines. Zuma said that instead of suppressing that proposal, the ANC decided to undertake an in-depth research into the matter.

But Zuma said while the debate had been started by the youth, the party had decided to use it as "an opportunity to explore how we can get the nation more from mining and acting within the Constitution".

"And at the current direction, the debate looks promising and sensible proposals are now coming out of the process," he said. 

State involvement could take the form of part ownership or full ownership of mines for selected minerals to help drive development programmes.

There is also a proposal for a tax on windfall profits on mining. Zuma said this would help facilitate economic growth and employment creation.

A final policy is expected to be adopted for implementation in December. - SANews.gov.za