Precious Metals

Reuters reported Anglo American Platinum (JSE:AMS) will implement a 3.5 billion rand deal that will give 2.33 percent shares to communities.

Reuters reported Anglo American Platinum (JSE:AMS) will implement a 3.5 billion rand deal that will give 2.33 percent shares to communities.

As quoted in the market news:

South African mining houses have to meet government requirements to ensure they are at least 26 percent black owned by 2014.

They are also under political pressure to do more for communities where they mine against the backdrop of glaring income disparities and calls by radical elements in the ruling African National Congress to nationalise the industry.

Click here to read the full Reuters report.

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