Nicky Oppenheimer, Africa’s richest man, and De Beers, the company his family built into the world’s biggest diamond producer, must prepare for the nationalization of their South African assets, the Youth League of the ruling African National Congress said, writes Bloomberg.

The league, which has proposed nationalizing the country’s mines and metal smelters, dismissed comments by Oppenheimer made in support of Susan Shabangu, South Africa’s mines minister, who this week said the country’s mines won’t be nationalized in her lifetime. The league accused the company and the Oppenheimers of profiteering at the expense of poor people in the country, the report said.

De Beers, which mines diamonds in Botswana and Namibia in partnership with the governments of those countries, “seems to be refusing that the people of South Africa benefit from mining of diamonds,” the ANC Youth League said in a statement yesterday.

The league’s leader, Julius Malema, 28, is pushing the ruling party to adopt a policy of seizing mining assets to spread wealth in South Africa, the biggest producer of platinum, ferrochrome and manganese, the Bloomberg report said.

“De Beers should not be misled by Susan Shabangu, but should begin to design models of engagement with the state in the same manner they did in Botswana” and Namibia, the Youth League said. “In South Africa, De Beers should begin to adjust to giving away 60 percent of its ownership and control of mining.”

Anglo American Plc, based in London, owns 45% of De Beers, the Oppenheimer family 40%, and Botswana’s government 15%. De Beers’ South African unit produced 6.37 million carats of diamonds in the first six months of last year, making it the second biggest of the group’s production regions after Botswana, said the report.

On Feb. 3 Oppenheimer told the state-owned South African Broadcasting Corp. that he was “delighted” with Shabangu’s comments and hoped that they ended the debate.

“Mr. Oppenheimer indicated he had noted the minister’s comments that nationalization was not government policy,” De Beers said in an e-mailed response to questions by Bloomberg today. “We’re obviously dismayed by the unfounded comments about our chairman, Nicky Oppenheimer.”

Malema said on Feb. 1 that the ANC Youth League has been in contact with Anglo American about its proposals on nationalization. The mining company declined to comment on the same day on whether it met with Malema or other Youth League members, adding that any action by the government to “impair” the industry would have “serious economic costs.”

Malema, a member of the ANC’s policy making national executive committee, has been calling for the nationalization of mines since July. He wants the government to own at least 60% of mines, create a state-owned mining company and halt any issuing of new mining licenses until legislation is amended the report said.

Historically, the ANC Youth League has been instrumental in helping decide who will lead the ruling party. The group’s support of Jacob Zuma, together with that of labor unions, in 2007 helped him oust Thabo Mbeki as party president, paving the way for him to become the head of state in May last year.

Zuma said on Jan. 27 that neither the government nor the ANC has officially discussed the proposal.

Bloomberg News.