https://www.miningweekly.com

Mining Charter 3 to be gazetted within weeks – Zwane

26th May 2017

By: Anine Kilian

Contributing Editor Online

     

Font size: - +

The third iteration of South Africa’s Mining Charter will be gazetted within weeks, Mineral Resources Minister Mosebenzi Zwane said last week.

Addressing a media briefing ahead of the Department of Mineral Resources’ Budget Vote debate, Zwane said the charter, which was supposed to have been gazetted at the end of March, was delayed to incorporate input from stakeholders and investors.

The Mining Charter and the Mineral and Petroleum Resources Development Act (MPRDA) will determine the extent to which empowerment credits can be claimed for past deals.

Legislation requires that black investors hold at least 26% of mining companies’ equity or assets.

“Consultation is one of the reasons why [the charter] has been delayed. We have provided a framework and engagement with various stakeholders, which has taken over a year,” Zwane said.

He added that more than 60 stakeholders outside government, including communities and large mining companies, have been consulted, noting that, once gazetted, the charter will be “reflective of careful consultations”.

Zwane noted that the charter needed “final touch-ups” before being gazetted.

“When the Mining Charter is gazetted within a few weeks, it will be one of the most revolutionary tools [in South Africa],” he stated.

He added that 90% of stakeholders that have been consulted have found common ground and said the department has to find a way to accommodate the 10% whose views were contrary to the compromises.

“We are trying to allow people to come up with the charter, instead of it being dictated [solely] by government. It will empower the people of South Africa.”

Zwane highlighted that the Mining Charter was not the primary mining legislation, pointing out that it was a tool that regulates what is stipulated in the MPRDA.

“We are giving stakeholders an opportunity to determine this tool to deal responsibly with issues of investment and business, as well as emphasising that stability, peace and prosperity in South Africa will only happen if the majority of the population are no longer excluded from participating in the country’s economy,” he said.

Zwane added that the department also continues to support the progress that has been made with the MPRDA.

“It has now been seen by the National Council of Provinces (NCOP) and will come back to Parliament and be enacted soon,” he said of the amended legislation that had been held up in the recent past as a result of inadequate consultation at the level of the NCOP.

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

Comments

Showroom

Alco-Safe
Alco-Safe

An unmanned breathalyser that is made to be tough and simple to use. Can be used in any environment for operator-free breathalyser testing.

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.106 0.139s - 88pq - 2rq
Subscribe Now