Reuters reports that Minister of Mineral Resources Mosebenzi Zwane said on Monday at the Mining Indaba that his department would publish its revised Mining Charter by next month.
A separate Mineral and Petroleum Resources Development Act will be finalised by June, proposing to give the state a 20% free stake in new energy projects and the ability to buy further shares. The Mining Charter was introduced in 2002 to increase black ownership of the mining industry. The Chamber of Mines has threatened to take the government to court over the latest draft, which requires companies to keep black ownership at 26% even if black shareholders sell their stakes. The Charter, which was previously revised in 2010, also requires companies to provide housing and other amenities in mining communities, many of which are mired in poverty and neglect. Mining companies say they were not consulted in regard to the latest draft, but Zwane denied this and sought to reassure investors.
- Read this report by Wendell Roelf in full at Business Report
- Read too, Cutifani encourages mining sector to focus on constructive dialogue, at Mining Weekly
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