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S.Africa's ANC supports windfall tax on miners
December 19, 2012 / 10:23 AM / 5 years ago

S.Africa's ANC supports windfall tax on miners

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.

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