Blacks set to own 26% of mines

Minister of Minerals Susan Shabangu insists that 26percent of mines should be black-owned by 2014.

Minister of Minerals Susan Shabangu insists that 26percent of mines should be black-owned by 2014.

Signing a mining transformation and sustainable growth declaration in Pretoria on Wednesday, Shabangu said the target had to be met.

She said only 9percent of last year's 15percent target had been reached. The industry had to explain why.

A name and shame policy would be adopted in the future, Shabangu said, describing transformation as a "process, not an event".

"Meaningful participation of historically disadvantaged South Africans means, among others, that ownership shall vest within the prescribed time-frames, taking into account prevailing market conditions."

Shabangu added that workers' working and living conditions needed to be improved as miners' sharing of rooms was "unacceptable". - Sapa

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