Zwane sticks to his guns on Charter to bring ‘radical economic transformation’
The mines minister says he has been told he’s on the right track — and should even have set minimum black ownership at 50% rather than 30%
Mineral Resources Minister Mosebenzi Zwane described the controversial third iteration of the Mining Charter as a tangible sign the government was serious about radical economic transformation, and touched on beneficiation of the country’s minerals as a way of opening the economy to a broader segment of the population. While the charter has been suspended since it was gazetted on June 15, as the Chamber of Mines seeks to interdict it and then have the document judicially reviewed, Zwane stuck to his guns about the charter’s intentions in redressing the historical legacy of the industry. Zwane also confirmed clauses in the long-delayed amendments to the Mineral and Petroleum Resources Development Act placing obligations on the mining industry around beneficiation, a process to add value to the country’s raw minerals to create jobs and greater income from those minerals. The chamber argues that the targets set out in the third charter are unrealistic and damaging to the industry, some...
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