COMPANY COMMENT
Gwede Mantashe has to keep several balls in the air
The minister and his experienced team must skilfully manage to juggle divergent and competing interests
SA is likely to get its first look at the highly anticipated new Mining Charter this week. Mineral resources minister Gwede Mantashe says his team at the department of mineral resources will have a final version ready to hand over to President Cyril Ramaphosa ahead of Wednesday’s cabinet meeting. Assuming the document, which governs transformation of the mining sector, is approved by the cabinet, the charter will be gazetted by the end of the week and usher in a new set of rules for mining companies. What is clear is that Mantashe has to be seen to be listening to the demands of the governing party’s constituency in communities and labour by upping the black ownership levels of mining companies to 30% from 26% in a prescriptive formula that sees those two groupings sharing 16 percentage points of that ownership. The department has tried to find a way to ensure that benefits flow quickly to communities and labour, with a 1% trickle dividend deducted from the operating profit level. A...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.