The African National Congress (ANC) has hinted at the possibility of more state-owned enterprises in the resources sector.

Gwede Mantashe, Secretary-General of the ANC, argued in favour of greater state intervention in the economy including some direct ownership.

During his speech in Johannesburg, Mr Mantashe said that the platinum mining sector could also be targeted but stopped short of supporting nationalisation.

Instead he called for the state to participate in partnerships with private companies involved in platinum mining to increase the release of additional mineral materials and safeguard financial resources.

Mr Mantashe urged firms to do business with the South African state like they do in other countries, according to Mining Weekly.

"Every time we raise these issues a red flag is raised and the scarecrow of nationalisation is raised. But the very same companies that fear this are comfortable in doing the same thing in countries such as Botswana," he explained.

"I don't think it is unheard of, in a predominantly commodity-based economy, for the State to participate in that sector without taking over from the private sector," he added.

Source:

ANC's Mantashe hints to creation of State platinum enterprise, 22/02/08
http://www.miningweekly.co.za/article.php?a_id=127671

Ÿ Adfero Ltd