The JSE opened lower on Wednesday as platinums and retailers led on the downside with gold stocks up on a firmer gold price. Retailers and banks were under early pressure in risk-off trade as market sentiment remains cautious following the release of the Mining Charter last week and ongoing debate following Public Protector Busisiwe Mkhwebane’s report calling for an adjustment to the Reserve Bank’s mandate. "SA’s new Mining Charter will further solidify the country’s negative mining sector growth prospects in the coming years, as updated revisions on black ownership levels and new taxes will raise compliance costs for miners in the country," BMI Research analysts said in a note. Absa said it had approached the High Court in order to have the public protector’s report reviewed and set aside. This was due to the numerous misrepresentations and factual inaccuracies that were used as the basis for its findings, the banking group said. The local market was following softer global markets...
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