Over two years of support for nationalisation from radical elements in the ruling African National Congress unnerved investors and has been seen as a key reason why the sector has not attracted the foreign capital it should.
But an ANC study released in February said nationalisation would be an "unmitigated disaster". Instead, it urged higher taxes and royalties which the sector could find hard to absorb as it struggles with soaring labour and power costs.
Shabangu has already signalled her ironclad opposition to nationalising mines in the world's largest platinum producer as has President Jacob Zuma, while supporters of nationalisation have been weakened.
The face of the nationalisation drive, former ANC Youth League leader Julius Malema, has been suspended from the ruling party for bringing it into disrepute, killing any influence the young radical may have had over policy.
Aquarius Platinum this week became the first major platinum producer to scale back activities because of low prices and will likely not be the last.
Shabangu said the platinum sector is so important to the South African economy, Africa's biggest, that it cannot be allowed to decline.
Darul Ihsan Media Desk