EDITORIAL: Gwede’s level head
Gwede Mantashe has been in the job only a few weeks, but has already spoken far more sense in that time than Mosebenzi Zwane managed in his two years in charge
There aren’t many people whose mere absence is a reason for considerable cheer, but former mining minister Mosebenzi Zwane is one person of whom this could be said without fear of contradiction.This was never more evident than last week, when the high court confirmed that mining companies that had already done empowerment deals to sell 26% of their shares to black investors would not be compelled to do another deal when those shareholders sell out. In other words, the principle of "once-empowered, always-empowered" will prevail.Zwane would probably have appealed against that court ruling. His successor, Gwede Mantashe, says government has no intention of doing so.After years of Zwane prevaricating, this is in itself a victory for SA’s beleaguered mining houses.Speaking this week, Mantashe said that companies whose empowerment partners had taken a quick profit and sold out should "not be punished". The minister has been in the job only a few weeks, but has already spoken far more sen...
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.