Zwane defends new Mining Charter

June 19, 2017

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South Africa mine’s minister on Sunday defended new regulations seeking to accelerate black ownership in the key industry as a “win-win” situation for all, despite objections from an industry body threatening court action to block the changes. Minister Mosebenzi Zwane released the government’s revised Mining Charter on Thursday, raising the minimum threshold for black ownership of mining companies to 30% from 26%, and giving resource companies 12 months to meet the target among a raft of other regulations that hit mining stocks.

Category: General