150 YEARS

An­glo CEO says more than 45% of SA’s min­ing as­sets are owned by black peo­ple

CityPress - - Business -

The form of empowerment where black share­hold­ers had a mi­nor­ity share­hold­ing could no longer be called empowerment, Trade and In­dus­try Min­is­ter Rob Davies said this week.

Black firms needed to be­come real play­ers in the South African econ­omy, Davies said dur­ing an event at the Min­ing Ind­aba.

“Regarding the new codes of good con­duct ... there will be pri­or­ity around own­er­ship, sup­plier devel­op­ment and skills devel­op­ment,” Davies said.

In the new codes of good empowerment prac­tice, Davies said that if a com­pany didn’t score ad­e­quately on those three fac­tors, that com­pany’s black eco­nomic empowerment (BEE) score would drop.

“We are go­ing to be a lot more rig­or­ous about this,” he said.

Davies said that there was a need to re­vi­talise re­search and devel­op­ment and the pro­duc­tion of min­ing equip­ment.

“The long-term goal is to en­sure that the next gen­er­a­tion of min­ing equip­ment and sys­tems are man­u­fac­tured en­tirely within our coun­try.”

There were plans afoot to grow the num­ber of small black-owned com­pa­nies that sup­ply the min­ing sec­tor, he said. In the plat­inum group met­als sec­tor, gov­ern­ment was look­ing to de­velop the fuel cells in­dus­try.

PHOTO: DEAAN VIVER

CON­FI­DENT Mosebenzi Zwane be­lieves the min­ing in­dus­try is poised to soar

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