SA mining’s wasted future
The high court ruling setting aside pivotal elements of the mining charter — and confirming the ‘once empowered, always empowered principle’ — is great for investment. But has it come too late?
Mineral resources & energy minister Gwede Mantashe is in no mood for introspection after a bruising court judgment last week that reflects poorly on his department.
After a multiyear battle, the high court set aside fundamental elements of the 2016 mining charter. Most notably, it ruled that once a mining company has done an empowerment deal, it retains those credentials even if its black shareholders sell out...