A new, inclusive pact involving all stakeholders about the future of the mining industry is fast emerging. On taking office, Minister of Mineral Resources Gwede Mantashe embarked on a rigorous process to bring calm to the industry following a period of unease and animosity. Uppermost was the engagement of social partners and all stakeholders to create trust, and to ensure policy and regulatory certainty in the sector. The draft Mining Charter, gazetted by the minister for public comment on June 15, is a result of this broad and extensive consultation with mining communities in all provinces and all industry stakeholders. The charter recognises both national and industry challenges and, therefore, the need for trade-offs to build social capital and achieve social cohesion. One of the necessary trade-offs is the 10% nontransferable free-carry interest to mining communities and qualifying employees over five years, which also provides communities and employees with representation on th...
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