[miningmx.com] – THE South African government approved plans to
separate the state-owned African Expxloration Mining and Finance Corporation
(AEMFC) from the Central Energy Fund (CEF) of which it is currently a subsidiary, said
Business Day citing Collins Chabane, minister in the Presidency.
The AEMFC will form the nucleus for a state-owned company that would be central to
the South African government’s beneficiation, industrialization and job creation plans,
Business Day said.
Citing Chabane, who is responsible for performance monitoring and evaluation, the
company would also play a role in “ensuring long-term energy security,” Business Day
said.
In the African National Congress’ recent discussion paper on state intervention in the
mining sector, it was suggested a state-owned mining company could become the
repository for mining investments held by the Industrial Development Corporation, a
government financier.
