Legislation introduced four years ago, obligated South African mining companies to sell 15% of their assets to black investors by 2009 and 26 percent by 2014. The law aims to compensate for discrimination suffered during apartheid, which ended in 1994. Sasol announced today, that a deal to sell a stake in its coal business to Exxaro Resources Ltd. to comply with black ownership laws collapsed.
Bloomberg – Sasol Profit to Fall; Exxaro Withdraws From Mine Unit