South Africa’s ruling party said mining companies should seek agreement with government over ownership rules rather than challenging them in court because even if they win a legal battle, legislation can still be changed to further the aim of spreading wealth to the nation’s black majority. The Chamber of Mines of South Africa, which represents companies including Anglo American and Glencore, has asked the High Court to back its view that a set of regulations known as the Mining Charter stipulates that companies should be credited with disposing of a minimum of 26% of their assets to black investors even if those stakes are later sold.
