NEW POLICY
Will the Mining Charter arrive in time to rescue SA's ailing sector?
Mining took another beating at the start of the second quarter as the sector holds out on the new Mining Charter, expected to revitalise investment. Claims of policy uncertainty have lingered around the charter, which had been due to be released this week. But Mineral Resources Minister Gwede Mantashe has promised that the charter will be finalised by the end of June. SA is estimated to have the world’s fifth largest mining sector in terms of economic value. In 2017, mining contributed 8% to SA’s GDP. Mining production fell 4.3% year on year in April, the second consecutive fall, after a decline of 8.4% in March. The Department of Mineral Resources has concluded its public engagements on the charter and has begun the process of drafting a revised document, the department’s deputy director of legislative drafting, Mthokozisi Mtshali, said in Parliament on Tuesday. Once the latest draft has been finalised, it will be released for public comment. 'Policy uncertainty' This is expected t...
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