South Africa's ANC rejects calls for nationalization of mines

Reuters News
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Posted: Mar 12, 2017 4:43 AM

JOHANNESBURG (Reuters) - South Africa's ruling African National Congress (ANC) has rejected calls from a rival political party to nationalize mines because it would lead to massive job losses, a policy strategy paper released on Sunday said.

The ANC has been under pressure to adjust its policies after losing votes at elections last year to the left wing Economic Freedom Fighters (EFF), a party that proposes radical redistribution of the economy and land to the black majority.

The ANC said in a previous policy document in 2012 that it would not support nationalization of mines but debate over the issue has intensified since the emergence of the EFF in 2013.

(Reporting by Mfuneko Toyana; Writing by Joe Brock; Editing by Mark Potter)