South Africa: Disadvantaged to receive Mining Stakes
The government wants to implement plans that will see at least 26 per cent of historically disadvantaged citizens gaining a stake in the mining industry by 2014. According to Mineral Resources Minister Susan Shabangu, the racial pattern of mining assets ownership has remained largely the same since the advent of democracy.
“We all agree on the imperative to transform the economy and to ensure that the economy is more inclusive. However, the transformation has been implemented in the mining industry over the past five years has left much to be desired,” Shabangu said. The country is taking more control and responsibility over the economy, allowing it to be competitive in the international market and thereby producing a better quality of life for all its citizens.
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This entry was posted
on Tuesday, July 6th, 2010 and is filed under
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