No increase in BEE quota for mines planned

The government has no intention of increasing the black empowerment equity requirement for mining companies above 26%‚ Mineral Resources Minister Ngoako Ramatlhodi told an IHS Energy South African Coal Exports Conference yesterday.

He was responding to questions following President Jacob Zuma’s decision to refer the Mineral and Petroleum Resources Development Amendment Bill back to parliament for reconsideration.

Although the primary motivation appears to be to separate oil and gas legislation and more public discussion‚ fears have been raised within the mining industry that the ownership aspect could also be revisited.

-Charlotte Mathews

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