Next week a full bench of the high court will hear the Chamber of Mines’ arguments against, and mineral resources minister Mosebenzi Zwane’s defence of, the disputed third draft of the mining charter, which Zwane sprung on mining companies last June. It will be an expensive three days for both sides. Yet it may be unnecessary, since deputy president Cyril Ramaphosa indicated at Davos that he was keen to find a way to break the deadlock. At the time of writing, there had been no further discussions between government and the mining industry about the charter but clearly Ramaphosa has had other priorities. Key requirements of the disputed charter are that applicants for new prospecting rights must have over 50% black shareholding; applicants for new mining rights must have 30% black shareholding; and holders of existing rights complying with 26% black shareholding have to raise this to 30% within 12 months. At least 70% of mining companies’ procurement must be local and 80% of local s...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.