Loading ...Mines minister may extend talks over empowerment rules
South Africa could extend consultations over a new draft law that has been opposed by mining companies who say it will impose unfair conditions on black ownership, the mining minister said on Friday.
The new draft of the Mining Charter says companies must be at all times at least 26 percent black-owned, even if some of the black shareholders choose to sell out, in an ongoing effort to redress the imbalances of white apartheid rule.
Mining companies argue that after they have complied with the 26 percent black empowerment rule it shouldn’t be their responsibility to continually monitor the balance of ownership.