The article analyses contestation of black economic empowerment ownership transfer policies in South Africa’s mining industry. Using case study material from platinum, the article examines the transition between the first Mining Charter of 2004 and the third Mining Charter of 2018. It argues that the inherent fragilities of this financialised redistribution mechanism have generated poor redistributive outcomes and achieved limited progress in the formation of a black capitalist class aligning political and economic power. This has contributed to increased factional and ideological contestation over the pace and method of economic transformation, and a deterioration in relations between the state and big business in mining.
- South Africa