ANC treasurer-general Mathews Phosa urged British business to reach across government policies, political divides and expand trade with South Africa.

"We should ensure that we work very hard towards achieving our goal of doubling the trade between our countries by 2015," Phosa said in his speech delivered at the Progressive Business Forum (PBF) gathering in London on Tuesday night.

"We should work towards that goal whatever the policy and political challenges are that face both the British and South African governments."

The PBF is the business arm of ANC.

During a previous visit in Britain a few years ago, Phosa had to deal with a lot of questions around the issue of nationalisation.

On Tuesday, Phosa said while nationalisation of the mines remained an issue which drew a lot of attention, it was still not government policy.

This is despite utterances by embattled ANC Youth League president Julius Malema – who has been driving the nationalisation of the mines – saying this was a "concluded and closed matter".

He told thousands of students at the University of Limpopo's Turfloop Campus last week during an OR Tambo Memorial lecture, that the ruling party was just studying the best model for it.

Phosa assured the business delegation that South Africa was "calmly" debating the matter.

"We have to do so taking into consideration global experiences regarding this matter, and the effect that such a measure might have on international partnerships and foreign direct investment," he said.

"We hope to have more clarity on the matter during our elective conference of the ANC at the end of 2012."

Phosa said considering global experiences was in his view, a major motivator to move with speed in initiating and concluding transactions between the private sector companies of both countries.

"It is my sincere hope that we can do so (form partnerships) whilst other policy matters seize the time of our respective governments," he said.

He acknowledged concerns around the perceived challenges regarding service delivery and the instability in the region .

Phosa said South Africa was a young vibrant democracy still trying to find its feet and international posture.