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South Africa’s New Mining Charter to Credit Past Black Deals
JOHANNESBURG (Capital Markets in Africa) – South Africa will give mining companies credit for past black-empowerment deals even when the investors later sold their shares to whites or foreigners, removing a major concern for the industry. The country’s new Mining Charter, which is aimed at distributing South Africa’s mineral wealth more widely, will apply the “once empowered, always empowered” principle as long they met the previous 26 percent black-ownership requirement. The minimum percentage will also…
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