Ann: South African Department of Mineral Resources Update, page-53

It is worth noting that other jurisdictions, PNG for example operate at a 30% national ownership level.

Acknowledging that the finer details - sunk cost vs free carry differ & will always be a point of contention.

https://ramumine.wordpress.com/tag/png-development/page/51/

As for the 'mandated' black employment requirements, this will never work & will end up being watered down. The reality is, there won't be enough 'qualified' people to fill these roles.

• At Board level, a minimum of 50% black representation, 25% of which must female black representation;
• At Executive/Top Management level, a minimum of 50% black representation, 25% of which must be female black representation;
• At Senior Management level, a minimum of 60% black representation, 30% of which must be female black representation;
• At Middle Management level, a minimum of 75% black representation, 38% of which must be female black representation; and
• At Junior Management level, a minimum of 88% black representation, 44% of which must be female black representation."