NEWS ANALYSIS: Moving target in mining regulation leaves investors uneasy
Investors are unsettled by the uncertainty created by shifting ownership level in the Mining Charter
The Chamber of Mines is painted as an obstructive force in the racial transformation of SA’s mining industry in Mineral Resources Minister Mosebenzi Zwane’s rebuttal of arguments in an interdict to stop the third version of the Mining Charter. In a replying affidavit, Zwane outlines the distrustful relationships between the department and the chamber, particularly around assessments of compliance with the first two charters. "The constant and continued failure in the mining industry to give effect in real terms to the objects of the [Mineral and Petroleum Resources Development Act] has been a major factor motivating the 2017 charter," Zwane says. "The chamber, rather than constructively engage on how the [act’s] objects can be met, has sought to put up one technical objection after another, it would now seem to undermine those objects," he says.In 2016, the department and chamber discussed a proposal to give eight mining companies written confirmation they had achieved their 26% emp...
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