S.Africa's ANC rejects call to nationalise mines

By James Macharia

JOHANNESBURG (Reuters) - South Africa's ruling ANC party dismissed a call from the party's youth wing on Thursday to nationalise the country's mining and manufacturing industries in the wake of the global financial crisis.

The African National Congress's Secretary-General Gwede Mantashe told Reuters nationalising mineral assets was not on the party's agenda, after its Youth League leader was quoted as pressing for state ownership.

Mantashe, a former mine workers leader who chairs the ANC's Communist Party ally, said nationalisation was not likely.

"There is no such plan," Mantashe told Reuters.

South Africa's new President Jacob Zuma has faced pressure from powerful trade union allies to introduce economic policy changes in the midst of a recession and widespread poverty.

The Sowetan newspaper quoted Julius Malema, president of the ANC's Youth League, as urging Zuma to fast-track implementation of the Freedom Charter agreed in 1955 by the ANC and its allies, comprising South Africans marginalised under apartheid.

The charter calls for equal rights and equal share of wealth with the country's white population.

Malema was quoted as saying the charter should be implemented even though this would be unpopular in the country.