South Africa's Chamber of Mines is to take legal action to suspend implementation of a government order increasing the minimum black ownership in mining companies to 30% from 26% currently.
The Chamber of Mines said it "rejects the unilateral imposition" of the Department of Mineral Resources' "version of the reviewed charter" on the industry.
It added that, unlike with previous charters where the stakeholders involved worked together to produce a charter, in this case the DMR produced and published its own draft last year "without engaging the industry in its conception."
The Chamber of Mines represents major mining firms, including Glencore, Lonmin, AngloAmerican and Rio Tinto.
The trade body said that "the Chamber reiterates its full support for and commitment to meaningful transformation in the mining industry," and concluded that "the Chamber will seek an interdict to suspend the implementation of the Charter and to take the DMR Charter on review."
According to UK business daily the Financial Times, the 30% ownership rule is to apply "even where black investors have sold down their stakes over the past 15 years."
No one at the Chamber of Mines was available for comment Friday.
