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Mining Weekly reports that Mineral Resources Minister Gwede Mantashe has pointed out that the free-carried interest stipulated in the latest draft of the Mining Charter would result in workers deriving immediate value.
This would thereby foster diligent performance and loyalty towards employers, as workers strove to enhance and improve “their” mine. He argued at the recent opening of Sasol Mining’s Shondoni colliery that the 5% free-carry stipulation for workers had far more implications than just monetary ones, noting that it effectively amounted to companies investing in their relationship with their employees and affected communities. Mantashe pointed out that communities would be unlikely to embark on violent protests against mines in which they were actively “invested”, while more workers would be more cognisant of the factors and challenges facing the company if they were shareholders. Mantashe also said transformation was not a compliance issue, but a business imperative. On the issue of ‘once empowered, always empowered’, he stated that the problem lay in black shareholders being pushed out of empowerment deals. “In that case, you cannot say they are empowered.”
- Read this report in full at Mining Weekly
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