South Africa's ruling party, the African National Congress is set to meet the Chamber of Mines to disuss implications of the new Mining Charter. The ANC meeting follows allegations that the chamber was not properly consulted by the country's Mineral Resources Minister, who gazetted the new laws last week. The Mining Charter will force mining firms to restructure their ownership to ensure they have 30% black ownership within 12 months. It will also require a 51 percent black shareholding in all new prospecting licences. The meeting comes as Fitch Ratings criticized the new laws, saying it will deter investment.

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