Chamber of mines says it will challenge new charter in court
Companies had 12 months to meet the new 30 percent target.
Former minister of Mineral Resources Mosebenzi Joseph Zwane at the Africa Mining Indaba on February 8, 2016 at the Cape Town International Convention Centre in Cape Town. Picture: Gallo Images
South Africa’s Chamber of Mines said it will raise a court challenge against a new mining charter announced earlier on Thursday by the mines minister that increased the minimum threshold for black ownership of mining firms to 30 percent from 26 percent.
South Africa’s mining industry has said that it has not been consulted enough and it is losing investment as a result.
READ MORE:
//
For more news your way, follow The Citizen on Facebook and Twitter.
For more news your way
Download our app and read this and other great stories on the move. Available for Android and iOS.
