By Garth Theunissen
Sept. 26 (Bloomberg) -- South Africa's government will discuss the creation of a state-owned mining company, Fin24 reported, citing the country's director-general of mineral and energy affairs, Sandile Nogxina.
Proposals to establish a government-backed miner will be tabled to the mining advisory board, which consists of representatives from government, labor and the Chamber of Mines, the Johannesburg-based Web site reported. South Africa may also seek to replicate the actions of the Botswana and Namibia governments, which formed joint ventures with De Beers to mine diamonds, Fin24 said.
A state-owned miner may also be an attempt by the country's government to restructure efforts to grant mineral rights to black South Africans as part of so-called black economic empowerment legislation, meant to redress disparities in wealth caused by apartheid, Fin24 reported.
``We keep giving the people mineral rights but they keep selling them,'' Nogxina said, according to Fin24.
No date has been set to implement the proposals, Fin24 said.
To contact the reporter on this story: Garth Theunissen in Johannesburg gtheunissen@bloomberg.net
Last Updated: September 26, 2008 10:38 EDT
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