JOHANNESBURG (miningweekly.com) The African National Congress Youth League (ANCYL) confirmed on Monday that it would be meeting with the Congress of the South African Trade Unions (Cosatu) on Thursday to discuss different policy issues.

ANCYL spokesperson Floyd Shivambu told Mining Weekly Online that the nationalisation of South Africa's mines and "the way to move forward with the issue" would be on the top of the agenda.

Cosatu spokesperson Patrick Craven confirmed that the labour federation would meet with the ruling party's youth league and said that the issue of nationalisation would "quite likely" be discussed.

Earlier this month, the ANCYL adopted a framework for engagement towards the nationalisation of mines. The document serves as a basis for engagement with stakeholders, including Cosatu, the South African Communist Party, business organisations, the Chamber of Mines and primarily the ANC.

The ANC welcomed the discussion document and noted that it would engage with its youth league through proper ANC structures, following which it would express its opinions on the issue.

When asked if Cosatu and the ANCYL would develop a joint document on the issue, Craven said that it would be decided at the meeting on Thursday.

In a recent article in the City Press, Shivambu wrote that the nationalisation could take various forms: from 100% public ownership through to majority ownership, or even partnership arrangements with the private sector.

He said nationalisation could involve expropriation with or without compensation, but that it would not be a bail-out for indebted mining companies.

Mineral Resources Minister Susan Shabangu dismissed nationalisation as a policy option at the Mining Indaba in Cape Town, telling investors that nationalisation would not take place "in my lifetime".

The ANCYL slammed Shabangu's statement and said that she was misleading investors by making "false assurances".