19 January 2018
   
ED and Zambia’s Lungu in ‘open talks’
African leaders wait for an apology from Trump
ED Shocker: Mugabe, 93, forgot he fired me
UK-ZIM: Mnangagwa exploits Brexit chance
MDC-T devastated by Bennet’s death
30 ZRP bosses fired, CIO spies too
Parliament: 11 G40 ministers, MPs fired
MDC-T’s Gutu scoffs at party HQ ban
MORE NEWS
SOE DEBATE: Privatise most parastatals
‘Mobile money tax will get dodger vendors’
MORE BUSINESS
Delight as ZBC 'Iron Lady' suspended
Sulu arrested over $4,000 child support
MORE SHOWBIZ
Tendai Ndoro special - says Ajax coach
Zim cricket official charged with fraud
MORE SPORTS
Elections: Not a moment to be lost
A view beyond the Zimbabwe coup
MORE OPINION
 
Mnangagwa off to Davos empty handed
Economy: the need for a paradigm shift
MORE COLUMNISTS
 
 
Miners talk with South Africa on empowerment outside of court case
20/10/2015 00:00:00
by Reuters
 
 
RELATED STORIES

THE black economic empowerment legal battle engulfing South Africa's mining industry could be resolved outside the court room, as miners hold private talks with government, the head of the Chamber of Mines said on Tuesday.

Empowerment goals set by the mining charter a decade ago to readdress the exclusion of 'disadvantaged' South Africans from the mining industry, required that black partners own 26 percent of companies by 2014.

Data from South Africa's Department of Mineral Resources, published in May, showed that the mining industry had failed to meet those targets. This was challenged by the Chamber of Mines, which took the government to court.

"We put in the application, the government has responded, so it is in a court process at the moment and there is no update," Roger Baxter told Reuters at a gold industry event in Vienna.

"But in parallel to that we are also engaging with government to see whether we can find some kind of solution outside of the court process but that remains in place," he added.

The Department of Mineral Resources disqualified any transactions where black owners had sold out their shares in the companies, taking down the average empowerment level to 20 percent.

The Chamber of Mines says black ownership of mining companies stands at 38 percent, while the employment equity sits at 52 percent at board level and 42 percent at a senior management level.

"We met all the targets at an employment ownership and employment equity levels and yet the government is saying the mining sector hasn't complied," Baxter said.



Advertisement


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark

 
 
 
comments powered by Disqus
 
RSS NewsTicker