[miningmx.com] — INVESTORS would have clarity on nationalisation in South Africa by July next year, according to Sandile Nogxina, special advisor to Minister of Mineral Resources Susan Shabangu.
Interviewed on Wednesday at the Africa Down Under conference being held in Perth, Australia, Nogxina said the ruling African National Congress would formulate its position on nationalisation at its policy conference in July, ahead of its national policy conference in December.
“The nationalisation issue will be put to bed by July. Nothing is likely to change between then and the December conference,’ Nogxina commented.
Nogxina acknowledged the damage that was being done to investor confidence by what he described as “the raging debate in South Africa on nationalisation’.
“For as long as this debate continues I believe there will be concern from some people and I believe that concern is justified,’ he said.
“However, there is a process now underway to resolve it. We know the timeline to finality and we must give the process a chance.
“Despite this, the policy of the South African government still remains one of ensuring that investment by the private sector plays a significant role. At this time nationalisation is not the policy of South Africa and there is no governmental process that is looking at formulating a policy on nationalisation.’
Nogxina denied that Shabangu had shifted her position on the issue in recent months, after initially saying that nationalisation “would not happen in my lifetime’.
“The minister has been very consistent in her stance. What has changed is the process that is underway following the decision to refer the issue to a task team,’ he said.
In the speech he delivered to the conference on behalf of Shabangu, Nogxina said: “I am confident that, when the right time arrives, the ruling party will take sensible far-reaching decisions that will balance, among other things, imperatives such as; economic growth and the creation of decent and sustainable jobs; the security of tenure together with transformation; role of the state in the economy; the need for investment in the mining industry as well as local beneficiation.’
At the press conference held after his presentation, he added he was aware of the competition for investment between mining destination countries.
Asked for specifics about the policy framework for beneficiation that was being formulated by government, Nogxina replied, “there are three specific minerals and value chains that are being targeted but I am not prepared to identify them at this stage’.
