At risk

More than 50 foreign-owned mining firms risk losing their licences after failing to submit acceptable indigenisation and empowerment plans as directed by government, reports said today. “Up to 45 mining companies have either had their plans approved or have agreed on an implementation framework and will generate revised plans to achieve a 51% indigenous threshold,” the Herald said. “Companies that did not respond or have not complied with the indigenisation and economic empowerment legislation will be prosecuted or have their business operating licences cancelled.”

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