The market does not appear overly concerned regarding new laws to be gazetted next week in South Africa regarding
Mine ownership.
The new Mining minster with majority government backing is preparing the miners for an increase of black ownership from 26% to 30%.
Miners have already given 26% under B.C.C (Black Economic Empowerment) which mostly have been sold.
Now it is being said they are to gazette the increase without credit for the 26% already handed over unless it is partly bluff.
Miners are very concerned, no doubt they will challenge through the courts.
Then the A.N.C will resist as they mostly agree with the changes.
Could it impact South32?.
Anyone been following it?
South African mine ownership,
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Last
$3.68 |
Change
-0.060(1.60%) |
Mkt cap ! $16.66B | |||
| Open | High | Low | Value | Volume |
| $3.69 | $3.71 | $3.65 | $46.48M | 12.64M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 289625 | $3.67 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.68 | 55111 | 4 |
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| Last trade - 16.10pm 26/06/2024 (20 minute delay) ? |
| S32 (ASX) Chart |