* Zuma makes no mention of mining nationalisation
* Calls on mines to contribute more to society
By Jon Herskovitz
JOHANNESBURG, June 29 (Reuters) – South Africa’s ruling ANC
will push for greater state involvement in mining and land
ownership to address inequalities inherited from apartheid that
pose a “grave threat” to Africa’s biggest economy, President
Jacob Zuma said on Friday.
Speaking at the end of a week-long African National Congress
(ANC) policy meeting, Zuma said the capitalists who became rich
under white-minority rule still held a disproportionate sway
over the economy 18 years after its demise.
“If we continue in this way, our gains of democracy will be
put at risk because those who feel the pain will say ‘Enough is
enough,'” Zuma said.
Mining firms in the world’s largest platinum provider had to
do more to create jobs and alleviate the poverty that is
fuelling almost daily unrest in sprawling black townships,
posing long-term risks to South Africa’s stability, he added.
However, in his hour-long address, Zuma made no mention of
nationalisation as a solution to the sector’s social
short-comings, suggesting a blanket state takeover of the mines
– the economic backbone of the state – has been shelved.
Instead, the ANC, which has enjoyed solid parliamentary
majorities since taking power in 1994, is looking at windfall
taxes on mining companies to fund redistributive social
spending.
Continued…
