is currently discussing with the Kazakh-owned Eurasian National Resources Corporation a plan to buy into mining interests in Guinea. A negotiating team is in secret talks about financing a local mining company to be owned by the Guinean state. The new mining code, drafted by advisers to the Guinean President Alpha Condé, would grant the new state entity a free 15% stake in Guinea's mining projects, with the option to buy another 20%. Sexwale was a business partner with Alpha Condé even before Condé became president. Sexwale's Mvelphanda Holdings and Walter Hennig's Palladino Holdings have entered into a partnership with US investment fund managers Och-Ziff Capital Management in African Global Capital, a natural resources investment fund focussing on the continent. Africa Management Limited In January 2008 OZ Management, Mvelaphanda (Mvela) Holdings and Walter Hennig's Palladino Holdings announced the creation of a new joint venture, Africa Management Limited. As part of the joint venture, Africa Management Limited established African Global Capital, as a vehicle for investment in both the private and public markets across Africa, focusing on natural resources and related opportunities. Sexwale said: "We intend to build on our already strong foothold in African investments in partnership with Och-Ziff. The partnership with Och-Ziff in African Global Capital will help us accelerate in building the leading African investment firm." Presidential ambitions He was mentioned as a possible candidate for Deputy President of the African National Congress in 2007. In September 2007 he announced his candidacy for the ANC Presidential nomination at the party convention in Polokwane. Prior to the convention, he withdrew his nomination and backed then Deputy President - Jacob Zuma. He did not stand for the Deputy Presidency as certain media speculation expected, the post eventually going to Kgalema Motlanthe. In 2009, he was appointed as Minister of Human Settlements by President Jacob Zuma having previously been touted as a possible Foreign Affairs or Defense Minister. 2012 ANC Leadership election Sexwale was nominated as Kgalema Motlanthe's Deputy Presidential running mate on 2 October 2012 by various regions in the Eastern Cape, the ruling party's second largest branch. The African National Congress Youth League also indicated that it would back Sexwale for the Deputy Presidency at the ANC's leadership election in Mangaung, Free State. On 18 December 2012, Sexwale was defeated for the post of Deputy President, coming in last place he received 463 votes while Cyril Ramaphosa received 3