ANC Youth League president Julius Malema has recovered his good humour, which he used to engage politicians at Parliament’s public hearings on the establishment of a state-owned mining company.
Addressing the mining portfolio committee’s hearings on the establishment of state-owned mining, Malema said all mining rights should be transferred to a state-owned company.
The company could become involved in partnerships with private corporations, he said, with the state holding a minimum of 60% shares.
“With state ownership and control of mineral resources, South Africa will be able to attract industrial investors, who will contribute to the growth of the economy, transfer skills, education and give them sustainable jobs”, Malema said.
He said the company should be established through an act of Parliament, which should clearly define its tasks, responsibilities and accountability mechanisms. The state-owned mining company would gather all the state’s interests in mining under one umbrella, he said.
“The state-owned mining company’s progress should be measured as per its ability, capacity and coherent determination to create jobs, maximisation of the country’s gain from national resources, contribution to socio-economic development and the assistance of communities where mining happens.”
Malema said the people of South Africa should share in the country’s wealth.
The issue of nationalisation of the mines was already firmly on the agenda of the ANC, he said. As if on cue, one of his ANC Youth League colleagues stepped into the Old Assembly Chamber and shouted: “Nationalise the mines, Nationalise the mines.”
The interruption was ignored and Malema told parliamentarians the issue of the nationalisation of the mines would continue to be discussed by the ANC. Malema hit out at the annual mining indabas, saying these were merely conferences where dividends were declared.
“I am happy the president did not attend the last one,” he said.
“These are not the places where we are going to find lasting solutions to mining in South Africa. This is a place where people merely exchange business cards.”
The hearings continue on Friday.