South Africa's Mines Minster said on Wednesday that China had shown strong interest in investing in the African country's mining sector, and reassured investors that there were no plans to nationalise mines. China, Africa's biggest emerging market partner, has been investing in the continent's mining and energy sectors, and the Minister said that South Africa was a willing but cautious partner.
        "There is a lot of interest from China. They are interested in manganese, platinum, uranium and I would say almost every commodity," Mineral Resources Minister Susan Shabangu told the Reuters Global Mining and Steel Summit in New York. "But we are also cautious to see if their investment is going to benefit South Africa. It is crucial for us to ensure our own interest is catered for."
        Shabangu said that the Chinese were keen to invest in processing of minerals in the country - a key priority of South Africa's government, which hopes to extract as much value from its mines as possible and boost job creation. Investors had expressed concerns to her about talk of nationalizing mines in South Africa, power shortages and regulatory hurdles and delays in acquiring mining rights.
        Shabangu said that rather than grabbing mines, the country would run a State-owned firm focused on strategic minerals such as coal and uranium, which were required for power generation. She said that by mid-April she would complete the consolidation of the assets under one company.