BUSINESS MONITOR
Mining Charter changes to lift SA’s index score
If SA’s efforts to deliver an improved Mining Charter in coming weeks are successful, Business Monitor International (BMI), a unit of FitchGroup, will upgrade the country’s low score on the regulatory sub-Saharan mining risk/reward index. Since February, SA’s mining industry has taken up the offer from President Cyril Ramaphosa to postpone a court application to review and set aside an unpopular and controversial third version of the Mining Charter in favour of talks with newly appointed Mineral Resources Minister Gwede Mantashe, an industry veteran. Mantashe has indicated that work on a new version of the third charter is 80% complete and a new document to guide the industry through racial transformation will be gazetted in May, while he is pushing the National Council of Provinces to speed up work on amendments to the Mineral and Petroleum Resources Development Act. SA is not the only country in the region experiencing regulatory and policy upheaval. The Democratic Republic of Con...
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