Black ownership of top firms is growing

Gold Fields sold the 15% shareholding to Mvelaphanda Resources for 4.1bn rand ($514m; �311m) in what it said was a "broad based black economic empowerment deal".

The law requires firms to transfer 15% of their mining interests within five years.

Mvelaphanda is a small mining firm run by black businessman Tokyo Sexwale.

Already co-operating

Mr Sexwale, who sits on Gold Fields' board as a non-executive director, runs a consortium of firms linked to community based development trusts.

The two firms "have a history of deals and co-operation and a relationship which is already established," said Alan Cooke, a mining analyst with HSBC in Johannesburg.

Mvelaphanda had previously agreed a joint exploration deal with Gold Fields, he said.

Gold Fields said it believes the deal "encompasses both the spirit and the letter of the Mining Charter on a basis which is commercially sustainable for both Mvela Resources and Gold Fields".

Outside the mining sector, oil giant Total has also handed over 25% of its voting rights to a black empowerment group.