The Italian owners of two granite firms are suing South Africa for €266m, arguing that laws which force firms to sell stakes to black investors violated international investment treaties, the investors' lawyer said on Friday.
The act marks the first legal action alleging that South Africa's mining charter, which seeks to boost involvement of blacks in a sector that excluded them during apartheid, amounts to expropriation.
Read more at FIN24.co.za
Showing posts with label BEE. Show all posts
Showing posts with label BEE. Show all posts
Friday, March 9, 2007
Thursday, February 8, 2007
De Beers to seal new empowerment deal - source
Diamond giant De Beers and the government are due to announce another South African black empowerment deal on Friday, an industry source said on Thursday.
De Beers finalised a 3.7-billion-rand deal last year to bring black investors into its South African business unit, but the latest deal would be extended to the actual mine operations, the source, who declined to be named, told Reuters.
Read more at Reuters South Africa
De Beers finalised a 3.7-billion-rand deal last year to bring black investors into its South African business unit, but the latest deal would be extended to the actual mine operations, the source, who declined to be named, told Reuters.
Read more at Reuters South Africa
Tuesday, February 6, 2007
Absa acquires stake in Thebe
Absa Capital announced on Tuesday that it has acquired a stake in Thebe Investment Corporation - South Africa's oldest BEE investment holding company.
In terms of the agreement, Absa Capital now holds a 15.54% stake in Thebe and will have board representation. The majority shareholder is the Batho Batho Trust.
The trust was set up to support the efforts of the historically disadvantaged in South Africa.
Read more at FIN24.co.za
In terms of the agreement, Absa Capital now holds a 15.54% stake in Thebe and will have board representation. The majority shareholder is the Batho Batho Trust.
The trust was set up to support the efforts of the historically disadvantaged in South Africa.
Read more at FIN24.co.za
Friday, February 2, 2007
Indian coal buyers struggle to find S.Africa partners
Indian industrial users are keen to invest in South Africa's coal mining sector but say they have been frustrated by the struggle to find suitable partners.
India imported just over three million tonnes of coal from South Africa in 2006 and is likely to take double that if it is available this year, Indian buyers attending an industry conference said.
Speaking on condition of anonymity, a number of would-be Indian investors said forming links with black-owned or black-controlled Black Economic Empowerment (BEE) producers was part of their frustration.
Read more at Reuters South Africa
India imported just over three million tonnes of coal from South Africa in 2006 and is likely to take double that if it is available this year, Indian buyers attending an industry conference said.
Speaking on condition of anonymity, a number of would-be Indian investors said forming links with black-owned or black-controlled Black Economic Empowerment (BEE) producers was part of their frustration.
Read more at Reuters South Africa
Wednesday, January 31, 2007
Vodacom eyes R7.5bn BEE deal
South African mobile operator Vodacom is considering a black economic empowerment deal worth around R7.5bn, the firm said on Wednesday.
Read Full Article at FIN24.co.za
Read Full Article at FIN24.co.za
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