South Africa mines minister delays finalisation of draft mining charter

South Africa’s mines minister Gwede Mantashe said on Sunday he will extend by a month a period for public comment on a mining industry charter which lays out requirements for black ownership levels and other targets.
Uncertainty around the charter has deterred investment into a sector that accounts for 8 percent of gross domestic product in the world’s top platinum producer.
Mantashe said he will extend the period for public comment until the end of August.
“It gives people a chance to engage more and comment more,” Mantashe said during his closing speech at an industry summit to discuss the charter.
A draft of the charter published last month extends to five years from one year the time that existing mining permit holders will have to raise black ownership levels to 30 percent from 26 percent.
It also proposes a requirement that 10 percent (a third of the 30 percent black ownership target) for new mining right applicants be granted free to communities and qualifying employees, dubbed “free carry”, which industry body The Minerals Council South Africa has opposed.
The charter, published for public comment before entering into law, is part of South African affirmative action rules aimed at reversing decades of exclusion under apartheid.
The government and miners had been at loggerheads over a previous version of the charter, which the Chamber of Mines industry body, now the Minerals Council, criticised as confusing and a threat to South Africa’s image with investors.
Reporting by Tanisha Heiberg; editing by Jason Neely.
More News
Rio Tinto buyout target Arcadium posts loss on falling lithium prices
Rio Tinto plans to create a standalone lithium division after it completes the $6.7 billion acquisition.
February 27, 2025 | 02:10 pm
Panama’s ‘novel ideas’ comments offer hope for giant copper mine
Speaking to reporters in Panama City Thursday, Jose Raul Mulino said he will visit towns near the mine that have been affected by its closure.
February 27, 2025 | 11:00 am
{{ commodity.name }}
{{ post.title }}
{{ post.excerpt }}
{{ post.date }}
Comments