Threats to nationalise the country's mines are already scaring off potential investors, claims the National Union of Mineworkers.
Labour federation Cosatu's biggest affiliate said a Swiss company, which plans to invest R8-billion in a mining operation in the country, now wants to put that investment on hold, as it is anxious about possible nationalisation of its assets.
"They have asked us if they should wait for 2012 (ANC elective conference) when a decision will be taken," said NUM general secretary Frans Baleni.
Baleni said although his union supported the call for mines to be nationalised, this should be in line with the Freedom Charter.
"We are clear - nothing about us without us - but (we) cannot satisfy individuals who are distorting the Freedom Charter when they call for nationalisation."
He said the call for the nationalisation of mines was being made in an arrogant manner.
"That has brought a lot of uncertainties. We are pushing socialism in a capitalist society. Capitalists are brutal, they can fight, and if they are not happy they walk away. How will we survive?" Baleni asked.
ANC Youth League president Julius Malema has led the chorus for the nationalisation of mines, but this has put the league at loggerheads with some of the ANC's leftist partners, especially the SACP, which feels that the league is representing the interests of a small group of mine owners who are in debt.
Baleni said the youth league's idea of how to nationalise had implications going into the future.
"You cannot change the rules in the middle of the game. We need to make calculations on how to implement change."
He was speaking to the Sunday Times on the sidelines at Cosatu's central committee meeting in Midrand, where the labour federation failed to adopt a clear position on nationalisation after major differences emerged.
Though Cosatu had publicly supported the call for nationalisation, it did not adopt a formal resolution on the matter and it is now unclear whether the federation supports the youth league's call for nationalisation without compensation.
The youth league has stated that government should expropriate strategic sectors of the economy without compensation, because paying for all the key and strategic resources stolen from the black majority would take more than a lifetime to be realised.
Baleni said it would be important for the ANC to come up with a clear formulation on nationalisation.
"If it becomes a free for all ... then our movement is going to the dogs."
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