New Mining Charter’s funding model remains point of contention
The mineral resources deputy minister says the department has set a date of June 8, but the free-carry issue is a sticking point
A draft of the revised third Mining Charter may be unveiled on June 8, but there is a heated discussion about a 10% “free-carry” component in the unchanged empowerment ownership level of 30% for newly issued mining rights, says Deputy Mineral Resources Minister Godfrey Oliphant. Speaking on the sidelines of the Junior Indaba, Oliphant said that the Mineral Resources Department had set a date of June 8 to complete deliberations on the charter and hold a summit to present the final draft to stakeholders. Industry players said that, in their opinion, the timeline was unlikely to be met and that there was still a lot to discuss, particularly about the 10% free-carry for communities and employees in new mining rights that the department was pushing for. It was not described as a deal breaker, but certainly one of the major sources of disagreement in formulating a new document to drive transformation of the mining industry. The 30% ownership level remained unchanged from the original vers...
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