Mining News

South Africa won’t appeal court ruling on black mining ownership

South Africa ruled out challenging a High Court ruling that struck down some key changes to mining rules that govern black ownership targets, in a move that could potentially revive investor interest in the industry.

In September, the High Court struck down some key provisions introduced to the mining charter in 2018 by Mineral Resources and Energy Minister Gwede Mantashe. It included a rule stipulating that an ownership target of 26% for Black investors in South African mining companies would remain in perpetuity. That meant miners that had previously met the threshold would need to find new Black shareholders if the original ones exited their holdings.

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