New mining minister Gwede Mantashe said he will finalise the Mining Charter, which has been challenged by mining companies, in the next three months. Picture: Cindy Waxa/African News Agency/ANA

Johannesburg - New mining minister Gwede Mantashe said on Wednesday he will finalise the Mining Charter, which has been challenged by mining companies, in the next three months.

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The uncertainty around the new rules contained in the charter has deterred investment into a sector that accounts for around 8 percent of South Africa's gross domestic product.

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The Charter sets out rules meant to increase black ownership of the mining industry, which is largely controlled by white people.