ANC prefers local buyer for Amplats mines
By Joe Brock
The world's biggest platinum producer, a unit of Anglo American, said last week it would sell a swathe of its most labour-intensive South African mines after a five-month strike hit its revenues and as it follows a long-term pivot to mechanised operations.
"It would be quite important to have a South African company buying those assets but it is not a choice of the ANC. We are not going to go to Amplats and say: 'select this consortium'."
The ANC leadership says it wants to encourage foreign investment but it also has long-standing policies aimed at boosting South African participation in the private sector.
After white-majority rule ended in 1994, the ANC introduced a Black Economic Empowerment law to redress some of the inequalities of apartheid by ensuring companies increased black ownership and numbers of black workers.
Some analysts have said poor labour relations and high costs make the mines Amplats is selling almost worthless, while other experts value them as high as $2 billion.