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"Why did the investors not leave when the apartheid government controlled Iscor? Why did the investors not leave when the apartheid government established Foskor in Phalaborwa? Why did the investors not leave when President Robert Mugabe implemented his economic policies," he asked.
He added: "They cannot leave because they want our chrome, they want our platinum and they want our gold."
Mathale said nationalising the mines would ensure the freedom that was achieved by South Africans had meaning to everyone.
Mathale addressed a sparse crowd at Malamulele Stadium as part of the Freedom Day celebrations on Friday.
He said South Africa should strengthen its relations with countries that supported the liberation struggle, such as China, "not America".
Ironically, on the same day President jacob Zuma awarded the late US senator Ted Kennedy with the Order of Companion of OR Tambo for his contribution to a free and democratic SA.
Mathale was accompanied by Vhavenda king Toni Mphephu, his cabinet and four traditional leaders out of more than 200 traditional leaders in the area.
The Malamulele community have in the past accused the Thulamela local municipality of having failed to provide services.
This after the Levubu-Shingwedzi and Greater Thulamela municipality were merged to form the Thulamela local municipality.
The community has complained about the one-sidedness of services in the municipality.
There has never been a mayor or manager from Malamulele in Thulamela or the Vhembe district municipality fromMalamulele.