September 23, 2017

South Africa’s minerals minister justifies contentious charter

South African Minister of Mining, Mosebenzi Zwane

Mineral Resources Minister, Mosebenzi Zwane, has reiterated that he strongly believes the new Mining Charter is realistic and achievable. This he said during an address to Black Business Council breakfast in Houghton on radical economic transformation.

The revised mining charter states which receives criticism from various industry players state, among other things, that there should be a minimum of 30% black ownership of mines.

According to Zwane, The charter brings out “the much-sought policy certainty that the investment community and the mining industry have been requesting from the government since the review of the charter began”.

“We do not want a continuation of what has occurred in the past, where deals that were structured only left the black shareholders with no real benefit being realised.”

Zwane says it’s time people stopped using the phrase radical economic transformation without implementing crucial policies.

The implementation of the new Mining Charter has  since been halted, pending an interdict set out for next month.

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