The nationalisation of mines in South Africa is going to happen, African National Congress Youth League (ANCYL) president Julius Malema said on Friday.
”We seek to implement the ANC’s Freedom Charter and it says that mineral resources must be owned by the people,” Malema told the annual conference of the Black Management Forum (BMF) at Midrand.
”We want to transfer mines to the ownership of the people because we know that the little money the people will make will be invested in social responsibility.”
Malema said in Botswana a mine could only be owned privately with a 49% stake, with 51% owned by government.
Mining companies in South Africa had been disrespectful as they were not put off if graves were found around a mining site during exploration. They went ahead and mined.
”They don’t care if someone is dead,” Malema said.
If the people owned the mines, they would know not to tamper with the dead and the spirits.
”Capitalism doesn’t know spirits but we know spirits,” Malema said.
Turning to the cost of electricity, he said people were paying a lot of money for power which was generated by coal.
”This coal is mined privately — we buy it, use it to generate electricity and sell it at an abnormal price to the poor people who really own the coal.”
Malema again complained that no ”African child” had ever been made finance minister in the ANC government.
”We’re preoccupied with the markets which means we can’t appoint an African child as finance minister,” he said.
”Since 1994, things have been very difficult in the ministry of finance, and here I’m talking succession, not that someone be removed.”
Malema denied questioning the struggle credentials of any individual.
”But we should see one of our own successfully running the economy. The markets must learn from the ANC. The ANC is a teacher and has taught many people lessons,” he said. — Sapa