The South African government's plans to convert the mining industry's old-order rights to new-order rights are picking up pace, according to a report from Business Day.

A number of major South African mining firms, including Harmony Gold and Aquarius Platinum, have converted their old-order mining rights to the new-order rights expressed by the government.

Speaking to Business Day, Sandile Nogxina, minerals and energy director general, said: "These are the first conversions and through these conversions we are laying an administrative precedent."

The government's plans for Black Economic Empowerment (BEE) have greatly affected the mining industry. BEE was set up to hand back some of the business power and wealth accumulated in the platinum and mining industries to the indigenous people of South Africa.

The mining industry is one of the biggest participants in BEE and initiatives such as 26 per cent of a company being owned by BEE partners are hoped to be in full effect in the industry by 2014.

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