The draft of the revised Third Mining Charter could be released on Friday, with the proposed 30 percent black ownership requirement likely to remain unchanged after the recent round of consultations.
According to Business Report, Deputy Mineral Resources, Minister Godfrey Oliphant, said on the sidelines of the Junior Indaba in Johannesburg that the government’s planned summit on the Charter would discuss substantive matters.
The Department has been criss-crossing the country to consult with stakeholders after the mining industry rejected the previous version of the charter, claiming that it would impact on their already stressed operations and scare off potential investors.
Last week, Mineral Resources Minister, Gwede Mantashe, said that input from the consultations would contribute to the development of the charter.
Mantashe said the department would convene a summit to allow all stakeholders to comment on the final product that came from consultations before tabling it before the cabinet.
On behalf of junior mining companies, Junior Indaba chairperson, Bernard Swanepoel, warned the Mining Charter requirements were “almost impossible” to comply with for small mining companies. “Let us not hold little siblings to the high standards of teenagers,” he said.
Source: Business Report