Anglo American not planning to sue South African government

Mining giant Anglo American has no plans to take legal action against the South African government over mineral rights, the group said on Saturday.
Anglo American's comments came as the Financial Times reported that four foreign mining groups were planning to sue South Africa's government for expropriation of mineral rights.
Anglo American said in a statement it had no intention of serving notice to legally pursue any claims that may arise out of South Africa's new minerals act.
"The Anglo American Group has decided not to serve any notices in respect of the claims which may arise as a consequence of the MPRDA (act)," it said.
The Minerals and Petroleum Products Development Act (MPRDA) which took effect in May in South Africa, the world's biggest producer of gold and platinum, ends private mineral rights and transfers them to the state.
To gain mining licences, firms must now meet a range of conditions, including boosting the involvement of the black majority under the Black Economic Empowerment programme.