South Africa Extends Its Moratorium on New Prospecting-Rights

Bloomberg reported that South Africa has extended a moratorium on new prospecting rights licenses by one month.

The market news is quoted as saying:

Mineral Resources Minister Susan Shabangu issued a national moratorium from Sept. 1, 2010, after finding the award of mining rights had been mismanaged. South Africa has the largest platinum, chrome and manganese reserves, and the biggest overall mineral wealth of any nation.

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