South Africa's Zuma says 463 firms not compliant with mining charter - CNBC Africa

South Africa's Zuma says 463 firms not compliant with mining charter

Mining

by Reuters 0

South Africa's Zuma says 463 firms not compliant with mining charter. PHOTOS: Wikipedia

South Africa's President Jacob Zuma said on Tuesday that 463 companies were found to be non-compliant with a charter that includes targets for black ownership.

Mining companies in the world's top platinum producer have been scrambling for years to meet the targets set out in the government's "Mining Charter", including one that calls for 26 percent black ownership by 2014. Failure to comply with the charter could result in permits or mining rights being revoked.

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