South African President Thabo Mbeki said on Friday the government had no plans to nationalise the country’s mine assets, while a mining boss said a final draft industry charter was ”a satisfactory compromise”.
”On the nationalisation of mines, this is not part of the process. No nationalisation is visualised,” Mbeki told a media briefing, after he received a copy of the final draft charter from industry stakeholders who negotiated the document.
The charter, stipulated in the Minerals Bill, will set targets and deadlines to increase black participation in a white-dominated industry.
Angloplat Chief Executive Barry Davison, who played a crucial role in the negotiations, said: ”It is a satisfactory compromise between government’s political imperatives and the commercial realities of the industry.”
He gave no specifics of the charter, but said the targets had been ”considerably broadened. They are not focused just on ownership, but on skills development, procurement and community upliftment.” – Reuters