Adding to the chorus of executives decrying the third version of the Mining Charter, outspoken Royal Bafokeng Platinum (RBPlat) CE Steve Phiri said the "shabbily" drafted document could bring the industry to its knees if implemented. Speaking at the release of the company’s interim results, Phiri said the charter, which Mineral Resources Minister Mosebenzi Zwane has suspended pending an interdict and judicial review started by the Chamber of Mines, had come at the worst possible time, particularly for the platinum sector, where 65% of mines were unprofitable. News about corruption and wrongdoing by government ministers "with monotonous regularity" was forcing investors to "think deeply" before putting money into the mining industry. "Besides the contents thereof, which are scary to say the least, the charter is a shabbily drafted, confused and ambiguous document. It was clearly drafted with no modicum of expertise in draftmanship. "You cannot transform at the expense at the downfall...

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