No government plans to nationalise unsustainable mines

01 Feb 2016 | Admin Author

ANC secretary-general Gwede Mantashe says the government has no plans to nationalise unsustainable mines.

Speaking in Johannesburg on Thursday, Mantashe said the mines should be put up for public auction.

He says if government takes over a liability, that is not nationalisation.

Mantashe said government was inheriting liabilities from capitalists who have made money and want to run away from responsibility that goes with the end of life of a mine.

Mantashe was responding to a statement by the Association of Mineworkers and Construction Union that the government should nationalise Anglo American Platinum if it continued with the proposed retrenchment of 14,000 workers.