South Africa seeks settlement over black ownership quotas: minister

JOHANNESBURG (Reuters) - South African President Jacob Zuma has instructed his mines ministry to find an out-of-court settlement over compliance on black equity ownership quotas, deputy mines minister Godfrey Oliphant said on Wednesday. The government wants mining companies to be 26 percent black owned under a proposed new law. Companies, however, say they should be considered to have met the regulation even when black owners have sold their shares in the firms. (Reporting by Ed Stoddard; Editing by Joe Brock)