At a joint media briefing held by Anglo and the minerals and energy department (DME), the miner said that it and the mining companies it held stakes in would not take action against the government.

"It is pleasing to announce that as a consequence of this constructive engagement, and the commitment by the DME, to implement the proposed amendment, the Anglo American board has decided that Anglo American will not be lodging claims for compensation for the expropriation of mineral rights before 30 April 2007," Philip Baum, acting CEO of Anglo American in SA, said in a statement.

Anglo Platinum, Kumba Iron Ore, Anglo Coal, Anglo Base Metals, Highveld Steel, De Beers, AngloGold Ashanti and Exxaro will also refrain from lodging claims.

SA’s mining charter, implemented in 2004, transfers all mining rights to the government and demands mining firms meet a list of conditions before obtaining new mining licences. The conditions include selling 26% of local mines to black investors by 2014, increasing numbers of black managers and improving conditions in mining communities.

Last month, the Italian owners of two South African-based granite firms said they were suing the government for €266m, arguing that laws that force firms to sell stakes to black investors violated international investment treaties.

DME Director General Sandile Nogxina told reporters that Harmony Gold, the world’s fifth-biggest gold producer, will also not lodge compensation claims against the government.