The draft of the third Mining Charter may have answered the contentious question about transformation in mining, but some industry pundits still believe there are a number of sticking points that need to be addressed. These include the 10% free-carry option, the issue of funding for BEE entrepreneurs, and the inclusivity of small or junior miners. The sector has been calling for policy certainty in the Mining Charter after Mosebenzi Zwane, the former mineral resources minister, released a charter last year that was regarded by the industry as hostile to investment. The latest iteration of the charter, released as the revised draft charter by the Department of Mineral Resources in June, has been praised for its clarity and recognition of the "once empowered, always empowered rule". Ajay Lalu, director at Black Lite Consulting, said it was a balanced charter and it was clear that substantial compromises had been made on both sides during negotiations. He added, though, that the issue ...
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