MINING CHARTER
Mantashe challenges court ruling on crucial charter principle
The application by the department will bring fresh uncertainty to the regulatory and policy environment
The Department of Mineral Resources, under the leadership of Gwede Mantashe, has sought leave to appeal against a high court ruling in favour of the Chamber of Mines, arguing that two of three judges erred in deciding that the Mining Charter was not legally binding. The High Court in Pretoria ruled on April 4 that the first two versions of the Mining Charter did not require producers to top up black shareholding levels in perpetuity if they previously met the minimum 26% requirement. The judgment was hailed at the time by the chamber and investors as good for settling some of the uncertainty that had dogged the South African mining industry for years.Now the application by the department will bring fresh uncertainty to the regulatory and policy environment that has curtailed investment in the country, resulting in an exodus of large mining companies. The move to take the matter to the Supreme Court of Appeal comes as Mantashe spearheads talks to formulate a third charter, replacing ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.