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November 29, 2007

Empowerment makes precious little progress in steel industry

In contrast, mining groups, oil firms and banks have concluded many BEE deals in order to obtain operating licences, convert mineral rights or position themselves to win government contracts.

However, investment analysts said pressure from the government, as well as from customers seeking to procure steel from empowered companies in order to score points under the BEE codes, would ultimately force steel makers and downstream processors to sell equity in their operations if they wanted to stay in business.

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Posted by StaffWriter at November 29, 2007 7:39 AM