Mantashe

The Minister of Mineral Resources, Gwede Mantashe has published the draft Mining Charter for public comments before it is finalised and gazetted. 

This follows weeks of engagements with stakeholders and social partners.

“Publishing of the Mining Charter moves us a step forward in terms of ensuring regulatory and policy certainty for the industry. We urge members of the public to submit their comments, views and ideas in order to shape the Charter,” says Minister Mantashe.

The Minerals Council South Africa (formerly the Chamber of Mines South Africa) says it will need time to study the document and consult its membership in order to formulate a comprehensive view.

It also notes the areas of consensus achieved in what has not been an easy task undertaken by the Department of Mineral Resources (DMR).

As previously explained by the Council, the industry does not favour a requirement of 10% ‘free carry’ on new mining rights as part of the proposed 30% BEE equity ownership target, as it would render uneconomic a significant proportion of potential new projects, and would undermine and constrain any prospects for growth in the sector and indeed the economy as a whole.

The Minerals Council will continue to participate fully in the engagement processes led by the DMR, and looks forward to the planned summit where it anticipates meaningful discussions will take place.