MAMPHELA Ramphele, the former chairperson of Gold Fields, defended her role in the economic empowerment of the gold firm's South Deep mine saying the South African government had influenced the transaction.
In an interview with BDLive, Ramphele - who recently launched a political 'platform' provisionally named Agang - said the government had insisted that certain partners be adopted in the empowerment of South Deep.
Gold Fields' preference was for an employee share programme but in the end, it opted to partner with an empowerment entity called Invictus which ended up taking a 9% stake in South Deep, said BDLive
Citing Ramphele, BDLive said: "The South African government had shoved the list of some of Invictus Gold’s black economic empowerment shareholders down Gold Fields’ throat, with an ultimatum that if the preferred names were not taken on board it would be denied a mining licence".
http://www.miningmx.com/page/news/g...ded-South-Deep-BEE-deal-Ramphele#.UUB8ehxkOf4
