Economy

SA seeks settlement over black ownership quotas: Minister

Date: Oct 5, 2016

South African President, Jacob Zuma, has instructed his mines ministry to find an out-of-court settlement over compliance on black equity ownership quotas, Deputy Mines Minister, Godfrey Oliphant, said on Wednesday.

The government wants mining companies to be 26% black owned under a proposed new law. Companies, however, say they should be considered to have met the regulation even when black owners have sold their shares in the firms.

--Reuters--

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