ANC Youth League leader Julius Malema emerged on Sunday as a key lobbyist in the controversial sale of a multi million rand state-owned mining asset.

The Sunday Times reports the state's stake in Limpopo-based ASA Metals will be awarded to a host of well-connected individuals, despite it being earmarked for the poor.

It is valued at R250-million.

Several politically connected individuals ? including Malema, soccer boss Irvin Khoza and Deputy President Kgalema Mothlante's son, Kgomotso ? have been identified as the beneficiaries of the multi-million rand stake in the mining company.

Malema first raised the issue of the nationalisation of mines last in October 2009; about one week before ASA Metals was scheduled to announce the successful bidder.

Malema was also a founding director in a consortium that was registered for the bid.

While he was later forced out, it is understood he has since had several meetings with those involved in securing the deal.

Speculation is rife that the nationalisation campaign is intended to put pressure on Sinosteel ? one of the largest trading companies in China ? to relinquish its majority shareholding in ASA Metals.