Chamber unhappy with revised mining charter
Delays in finalising the charter and the court action over the 'once empowered always empowered' principle have caused uncertainty among investors
The Chamber of Mines is unhappy with the Department of Mineral Resources' revised mining charter saying the views of the industry have not been taken into account. It says it will await the published version of the charter which is due to be released in December before considering whether any action to challenge it is necessary. The department briefed Parliament's mineral resources committee on Wednesday on the changes made to the draft charter published for comment in April. Significant changes have been made, for example to the requirements for procurement from black companies; the establishment of a Mining Transformation and Development Agency to replace the social development fund and the ministerial skills development fund in the initial draft; and a new requirement that 0,15% of annual turnover be dedicated to research and development has been introduced. Chamber of Mines CEO Roger Baxter said unlike previous charters which had been thrashed out jointly with stakeholders, the ...
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