Mantashe calms concern on nationalisation

The nationalisation of mines could not willy-nilly become ANC policy by 2012, secretary-general Gwede Mantashe said in the UK on Friday.

"The idea of nationalisation of the mines as raised by the ANCYL will have to go through the ANC's economic transformation committee, the national general council (to be held later this year) and the policy conference before even reaching the national conference in 2012," he said.

Mantashe was addressing the Progressive Business Forum of the ANC in London.

He told the audience that he met European Union ambassadors last week, who had raised concerns over talks of nationalisation.

Nationalise the Reserve Bank!

ANC secretary-general Gwede Mantashe (right) has moved closer to the ANC Youth League position on the nationalisation of mines, encouraging party leaders to expand the debate to include other sectors such as the banking industry. 

In a report presented to the ANC national executive committee lekgotla last weekend, Mantashe said the ANC needed to explain the role of the state in the economy and the redistribution of wealth and income. He said the ANC must answer whether it has "made progress in ensuring that the people share in the country's wealth".

He said the Freedom Charter demanded that the mineral wealth, the banks and monopoly industry be transferred to the people.

Mantashe hinted that the Reserve Bank should also be nationalised.