SA mines minister drops challenge to court ruling on black ownership threshold

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Mineral Resources and Energy Minister Gwede Mantashe has withdrawn an appeal of a court ruling that held that mining companies did not have to maintain at least 26% black ownership in perpetuity, the Minerals Council industry body said on Wednesday.

JOHANNESBURG - South Africa’s

The Minerals Council said they were pleased by the decision which now means the order would be undisputed. The ruling, in the form of a declaratory order, means mining companies in the world’s top platinum producer need only to make the 26% threshold once, and do not need to top up again if black shareholders decide to sell their stake.

 

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