Holders of mining rights will have up to 30 years’ stability on their Mining Charter obligations, says Mineral Resources Minister Gwede Mantashe. The third iteration of the charter, released on Friday, keeps the 30% ownership target introduced in the previous charter by former mineral resources minister Mosebenzi Zwane but includes major concessions to the industry on recognising past deals, provided that the partners left voluntarily. The department had drawn in the redraft on best practices from other mining countries including Botswana, Mantashe said on Sunday. The Minerals Council SA (formerly the Chamber of Mines) said that although the new draft version, which is open for comment for 30 days, was a “material improvement” over Zwane’s charter gazetted in June 2017, it was still deeply flawed. “The Minerals Council believes that much more work needs to be done to create a Mining Charter that promotes competitiveness, investment, growth and transformation for the growth and prosp...
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