Mining companies are meeting the challenge of black economic empowerment according to South African minister Phumzile Mlambo-Ngcuka, with the platinum firm Southern Era Resources being singled out for particular praise.

Ms Mlambo-Ngcuka, minister of minerals and energy, said she was confident that companies would continue their good progress: 'There is enough goodwill to avert any unintended consequences.'

Addressing a function held by auditing group KPMG she went on to hail the performance of Canadian company Southern Era.

The firm, which has a controlling interest in Messina Platinum, was given special mention for its plans for the beneficiation of platinum and diamonds.

Ms Mlambo-Ngcuka also took the opportunity to reiterate that the charter would see funds channelled back into the communities surrounding the mining infrastructure.

The charter requires that mining companies in South African fulfil a number of requirements, including that 15 per cent of the industry is held by empowerment concerns within five years of the charter becoming law and 26 per cent within 10 years.