Mining Charter to be finalised in three months – Mantashe
JOHANNESBURG – South Africa's new mining minister Gwede Mantashe said on Wednesday he will finalise the latest version of an industry charter, which lays out requirements for black ownership levels and other targets, in the next three months.
Uncertainty around the charter has deterred investment into a sector that accounts for 8% of gross domestic product in the world's top platinum producer.
The government of new President Cyril Ramaphosa has said it will negotiate the latest charter with mining companies, prompting the Chamber of Mines (CoM) to temporarily suspend a legal challenge to the version drawn up by Mantashe's predecessor Mosebenzi Zwane.
"We will finish it within three months, I am putting that timeframe for myself," Mantashe told the eNCA news channel when asked about finalising the charter.
The industry had broken off talks with Zwane and said his new charter would drive many companies out of business. Bones of contention included raising the target for black ownership to 30% from 26%.
Mantashe is a former General Secretary of the powerful National Union of Mineworkers (NUM) and is chairman of the ruling African National Congress. He is known for his gruff, blunt style and tough negotiating skills.
The CoM industry body this week described Mantashe as "a man of integrity and dignity, and who brings with him a sound and fundamental knowledge of the industry he will lead and enable".
Comments
Research Reports
Projects
Showroom
Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...
VISIT SHOWROOM
For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
