Both the National Union of Mineworkers (NUM) and parliamentary circles expressed some support of suggestions by ANC Youth League president, Julius Malema, to nationalize mines, reports Business Report.



General Secretary of NUM, South Africa's largest labor union, Frans Baleni said that in effect ANC government had already nationalized minerals rights. Alexkor, the state mining company is all ready and set to go. Since private owners are not forced into selling their assets, there should be no issues in implementing the nationalization process, and it should benefit the state by creating jobs and generating revenues. Research is needed to determine how to go about the implementation process. Baleni declined assessment of parliamentary reception for the ideas, as reported at Business Report.

On the parliamentary side, parliamentary mining committee chairperson, Fred Gona, said that Alexkor's mining activities could, in fact, be expanded, as long as undertakings are properly regulated. "We need to change the style of management and strengthen the accountability of decisions," Gona is quoted at Business Report.



Business entities around the world are displeased with the developments and estimate that the ANC will hold back on the nationalization process to secure business as usual. South Africa is the largest producer of minerals such as chrome, manganese, vanadium and platinum in the world, and one of the largest diamond producers.