The Chamber of Mines and others are raising red flags over the ‘innovative’ new mining charter imposed on the industry by minister Mosebenzi Zwane. They say it is illegal in many respects and will scare away investment and harm the country as a whole. But the industry must do more to deracialise mining to avert more outlandish ideas of transformation. The comment from Cadiz fund manager Peter Major on the new mining charter summed up the response of many in the industry: "It’s so outlandish that it’s not going to happen." Yet, as the shock new charter heads to court, with the Chamber of Mines launching an urgent interdict to stop it being implemented and taking mineral resources minister Mosebenzi Zwane on review, significant damage has already been done — with more damage to come in the months and even years of litigation that could lie ahead. Even if this third mining charter is never implemented in its current form – which seems likely, given the host of legal issues it raises – ...
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