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February 11, 2009
SA govt must save mine empowerment
[miningmx.com] -- On Tuesday the SA banking industry drew a line in the sand for black economic empowerment (BEE) in the mining industry because BEE has been financed with debt that the banks could no longer support.
The government will have to buy out these mining companies or the mines will need to sell their production forward to repay their BEE loans, said Cliff Zephyrine, head of investment banking at Absa Capital and Barclays Capital, at the annual Mining Indaba.
Posted by StaffWriter at February 11, 2009 9:44 AM