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Malema Censure Derails South African Nationalization Drive

Julius Malema’s suspension from South Africa’s ruling Africa National Congress may reduce the risk the government will nationalize mines, bolstering investor confidence in the world’s biggest producer of platinum and chrome.

The ANC yesterday suspended Youth League leader Malema, 30, for five years, saying he had undermined party unity and damaged its reputation. The group’s spokesman Floyd Shivambu was also cast out of the party for three years. Both may appeal the decision. Four other league officials were given suspended sentences for disrupting a party meeting.