"Nationalisation was discussed [at the conference], but it was not part of the mining section," he told reporters at the ANC policy conference in Midrand.

"It was discussed broadly as to whether we should retain nationalisation as an option or not. The greater consensus was that there should be a greater state intervention."

Godongwana said details on the proposal for a mining super-tax were not finalised at the conference.

"In principle, the proposal of using some form of... a tax instrument was agreed, but not that [super tax].

The policy discussion document proposed a 50% super-tax on profits exceeding about 15%. Such a tax could be expected to yield about R40 billion a year at current prices.

However, ANC members have agreed that state intervention in the minerals and mining sector is "urgently required", President Jacob Zuma said.

"[The] conference has agreed that the state intervention with the focus on... industrialisation is urgently required in the minerals sector," Zuma told African National Congress delegates at the close of the party's policy conference in Midrand, Johannesburg.

"At the forefront of this intervention should be strengthening of the recently created state mining company by consolidating state mining assets into a single institution."