South Africa eyes BHP spin-off

By Sarah-Jane Tasker - The Australian

The minister said he believed that there could be opportunities for indigenous groups through the new company. “The black people of South Africa have been excluded from the economy for centuries,” he said, adding that the de-merged entity could provide an opportunity for locals to have a more meaningful stake. “It gives us an opportunity to transform the investment.

Ngoako Ramatlhodi said while the current rules ensured that black economic empowerment participants (BEE) had a 26 per cent stake in mining projects, he wanted to see locals have a higher interest in the assets BHP is looking to de-merge.

Read more here: Business Spectator


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