Mthombo oil refinery, Eastern Cape, South Africa. PHOTO/http://www.sxc.hu
(Reuters) - Black ownership of fuel companies operating in South Africa is far below state-mandated targets agreed in 2000, the energy minister said on Thursday, warning companies could lose their operating licences if they failed to make up ground.
Under the Petroleum and Liquid Fuels Charter of 2000, companies committed to achieve 25 percent black ownership by 2010 to boost the participation of blacks in the
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