Today's Labour News

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southafricalogoBusinessLive reports that the cabinet has approved the third version of the Mining Charter and has agreed to ask parliament to withdraw changes to a key mining law, paving the way to improve regulatory certainty for investors.  

The long-awaited revised charter, which sets ownership and transformation targets for the sector, might be published as soon as Friday in the government gazette.  The third version of the charter has been extensively debated since mineral resources minister Gwede Mantashe was appointed in February.  The cabinet also approved asking parliament to withdraw the long-delayed and problematic bill amending the Mineral & Petroleum Resources Development Act (MPRDA).  It has been under discussion since 2013 and would have allowed for the separation of the oil and gas sectors in the act and putting them into their own laws.  Both moves were positive steps to improving the regulatory climate, said Jonathan Veeran, a partner at Webber Wentzel.  Investor-friendly regulations are seen as crucial in order to improve the sector’s fortunes.

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