August 17, 2010 / 12:27 PM / in 10 years

SAfrica state-owned mining firm seen before year-end

A mine worker looks on underground in Modderfontein east mine, outside Johannesburg, February 3, 2009. REUTERS/Siphiwe Sibeko

PRETORIA (Reuters) - South Africa’s Mining Ministry will soon approach the Cabinet with its proposal for a state-owned mining company, which could be formed before the end of this year, a senior government official said on Tuesday.

“We’ve developed a concept for a state-owned mining company and will approach the cabinet very soon on that... it could be next month,” Sandile Nogxina, Director General in the mining ministry told Reuters.

“How soon it can be formed will depend on the options the cabinet will adopt... it could happen before the end of this year,” he said.

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