South Africa proposes 30 per cent black ownership for mining firms within five years
1 months ago, 18 June 00:00
South Africa plans to raise black ownership at permit-holding mining companies to 30 per cent from 26 per cent within five years, the latest draft of a hotly-contested new industry charter showed on Friday.
The draft charter extends to five years from one year the time that existing mining permit holders will have to meet the new black ownership requirement.
The government and miners had been at loggerheads over a previous version of the charter.
Category: business news