WATCH: Gwede Mantashe reacts to the ‘Once empowered, always empowered’ ruling in mining
The South African High Court has ruled in favour of the Chamber of Mines in terms of the "once empowered, always empowered" principle, which entitles mining companies to keep its black economic empowerment (BEE) status even if a black partner exits its stake in the firm. One hopes his brings the third iteration of the Mining Charter closer to finalisation as uncertainty around the charter has deterred investment in the sector which accounts for 8% of the country's GDP.
Minister of Mineral Resources Gwede Mantashe joined us on the line to discuss what the ruling means for transformation in the sector.
The South African High Court ruled in favour of the Chamber of Mines in terms of the 'once empowered, always empowered' principle which entitles mining companies to keep its black empowerment stat...