Mineral Resources Minister Mosebenzi Zwane has proposed raising the mandatory black ownership of mining assets to 30% from 26%, drawing opposition from some ruling-party officials who fear it will deter investment, two people familiar with the situation said. The proposal is part of a long-delayed draft mining charter outlined by Zwane, an ally of President Jacob Zuma, to the ANC’s economic policy committee on May 13. Senior party policy officials warned of the potential negative consequences of his plans, said the people, who asked not to be identified because Zwane had not formally proposed the changes for public comment before they become binding. Zuma’s Cabinet on Wednesday approved the draft mining charter, which will be released for public comment once it has been gazetted. ANC spokesperson Zizi Kodwa did not answer calls seeking comment. It is unclear whether the Cabinet demanded changes.
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