The ANC in KwaZulu-Natal does not support the call for the nationalisation of mines, provincial secretary Sihle Zikalala said in Durban on Monday.
“We believe nationalisation will be expensive and will have massive economic consequences for our country,” Zikalala said.
He was briefing reporters on an ANC workshop on the issue, attended by more than 500 delegates in Durban.
“The report is clear, nationalisation will be unconstitutional unless we say we'll pay those people who own those mines and that will cost the state more than R1 trillion,” said Zikala.
“That will impose serious challenges in the economy, so we are not going to support the call for nationalisation.” – Sapa