South Africa's ANC supports windfall tax on miners


  • World
  • Wednesday, 19 Dec 2012

BLOEMFONTEIN, South Africa (Reuters) - South Africa's ruling African National Congress has rejected proposals to nationalise the country's mines but supports a windfall "resource rent" tax on mining firms, according to a draft policy document seen by Reuters on Wednesday.

"The state must capture an equitable share of mineral resource rents and deploy them in the interests of long-term economic growth, development and transformation," the draft of party's economic policies said.

(Reporting by Jon Herskovitz and Peroshni Govender; Editing by Ed Cropley)

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