No reprieve from uncertainty over charter for mining sector
The long-awaited review postponed to mid-February from mid-December
The South African mining industry will continue operating in an uncertain and damaging environment after the long-awaited review of the suspended third Mining Charter in the High Court in Pretoria was postponed to mid-February from mid-December. The third charter knocked R51bn off the value of listed mining stocks on the JSE when it was introduced and caused deep unhappiness across the sector, which argued it was unworkable, impractical and poorly drafted. Mineral Resources Minister Mosebenzi Zwane has argued that the charter is a tangible example of "radical economic transformation" demanded in several party quarters of the governing ANC.
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