South Africa’s ANC Considers Strategic State Ownership for Platinum

Jan. 31, 2013 03:40PM PST

The ANC clearly wants mining, as a key sector of the economy, to play a more pronounced ‘multiplier’ role, and to be the catalyst for growth in other sectors of the industrial economy,” says Mde, who is adamant that the party’s policy goals do not require direct State ownership of every mine in the country.

Mining Weekly reported that South Africa’s leading political group, African National Congress (ANC) might identify platinum as a strategic national asset, which in turn, will necessitate state ownership in order to heighten its development potential.

As quoted in the market news:

The ANC clearly wants mining, as a key sector of the economy, to play a more pronounced ‘multiplier’ role, and to be the catalyst for growth in other sectors of the industrial economy,” says Mde, who is adamant that the party’s policy goals do not require direct State ownership of every mine in the country.

Click here to read the full Mining Weekly report.