South Africa Issues Plan to Keep Black Mine Ownership at 26%
- S. Africa's Chamber of Mines says plan is 'basis' for talks
- Miners have 30 days to comment on review of charter version
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South Africa issued a draft plan that intends to compel mines to ensure that black people hold at least 26 percent of their shares even after those stakes were sold.
In the reviewed Mining Charter published for comment on Friday, the Mineral Resources Department stated that mine-right holders must ensure their empowerment credentials are “consistent with the amended 2016 Mining Charter,” which states that producers “must achieve a minimum target of 26 percent ownership per mining right to enable meaningful economic participation of black people.”