The ANC said mining companies should seek agreement with the government over ownership rules rather than challenging them in court because even if they win a legal battle, legislation can still be changed to further the aim of spreading wealth to the nation’s black majority. The Chamber of Mines of SA, which represents companies that include Anglo American and Glencore, has asked the High Court to back its view that the Mining Charter stipulates that companies should be credited with disposing of a minimum of 26% of their assets to black investors, even if those stakes are later sold. "Let's assume that the court rules in your favour. The regulators can undercut that by making new legislation that undermines whatever court judgment you have had," Enoch Godongwana, the ANC’s economic policy head, said on Wednesday in an interview at the party’s headquarters in Johannesburg. "We had discussions with both the Department of Mineral Resources and the chamber on this matter, and said the ...
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