S.Africa's ANC supports windfall tax on miners

BLOEMFONTEIN, South Africa Wed Dec 19, 2012 5:19am EST

BLOEMFONTEIN, South Africa Dec 19 (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.