We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

The case brought by the Chamber of Mines, in which it sought a declaratory order on the issue of the consequences of empowerment transactions in the extractive industry, was heard in the High Court in Pretoria recently. Unfortunately, for an industry in desperate need of regulatory stability, the court chose to reserve judgment. The issue is an old one that has been outstanding since the second iteration of the Mining Charter in 2010. As matters stand, the action has done little more than once again illustrate how damaging is the overemphasis on ownership as an empowerment vector. The chamber seeks a decision that allows observance of the "continuing consequences principle" where mining companies can continue to claim empowerment credits even after black owners have cashed out (once empowered, always empowered). The Department of Mineral Resources, however, wants to limit the principle. But it has gone beyond this and not only insisted that black ownership levels be maintained in pe...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now