The state must own at least 60% of any new mining venture in South Africa and at least 51% of all existing mines, Julius Malema's ANC Youth League proposes in a policy document prepared for a conference next month.

Julius Malema has put his cards on the table with a formal proposal to his ANC Youth League's policy conference next month that existing mines should be nationalised - with or without compensation - and that any new mine should be licenced only if the state is given a 60% share. The ANC has consisently dismissed Malema's campaign for nationalisation, but has agreed to discuss the youth league's call at its policy conference in September. The league will prepare the ground with a discussion at its own policy conference next month and the likely adoption of a resolution to be taken to the main party meeting a month later.