Malema calls for 50% mine ownership scheme

African National Congress Youth League leader Julius Malema on Saturday called for the government to institute a 50% ownership scheme in South African mines.

‘We are calling for the South African government to have 50% ownership. This model is very successful in Botswana.

The government there uses the profits it generates from mines to subsidise essential services,” said Malema.

He was addressing the ANCYL regional conference in Durban. Malema said he did not understand why people overreacted when the youth league raised the issue of the nationalisation of mines.

“People need to understand that if you nationalise you are not calling for people to go and grab mines. We are not calling for anarchy.”

He said the government needed to implement the 50% ownership scheme in a way that would not undermine the current ownership of mines.

‘Government must wait until the license of a certain mine expires and say, we will renew your license on condition that you work with us,” he said.

Malema accused mining companies of not doing enough to uplift communities in which mines were situated.

‘In Sikhukhune for example, there is huge platinum mine but no investments have been made in the area. They have not even built a road there. The government has built it for them,”

Malema also questioned Anglo American’s decision to appoint a British national to chair its board, saying that a South African should have been appointed.

‘About 40% of Anglo American’s work is in South Africa but they decided to appoint a man from Britain. The gist of the struggle was economic and political emancipation. We have the political power now and we now need economic power,” he said. - Sapa