MANTASHE: THIS DRAFT MINING CHARTER DIFFERENT VERSION FROM ONE UNDER ZWANE
The draft mining charter conceded to the “once empowered always empowered” principle which was not the case in the past version.
Qaanitah Hunter
Eyewitness News
JOHANNESBURG – Mineral Resources Minister Gwede Mantashe says the draft mining charter is substantially different to the contentious version drafted by his predecessor Mosebenzi Zwane.
He says while the public can submit their comments until 27 July, they are hoping that there won’t be any major changes to it.
When the past mining charter was published a year ago, the industry and government were locked in fights that spilled over into court.
The Minerals council, formally known as the Chamber of Mines, argued at the time that there was little consultation by Zwane.
Now Mantashe says after widespread consultation, all concerns have been considered.
“If you compare this charter and the other one that was taken to court by the chamber, very different animals and the reason for that is that we’re serious about listening to the concerns of all the stakeholders.”
In the previous version of the mining charter, mining companies had a year to comply with the 30% black ownership requirement, now the new document gives them up to five years to comply.
The draft mining charter conceded to the “once empowered always empowered” principle which was not the case in the past version.
This means South African companies will be credited for past black-empowerment deals even when their investors later sold their shares to whites or foreigners.
Qaanitah Hunter
Eyewitness News
JOHANNESBURG – Mineral Resources Minister Gwede Mantashe says the draft mining charter is substantially different to the contentious version drafted by his predecessor Mosebenzi Zwane.
He says while the public can submit their comments until 27 July, they are hoping that there won’t be any major changes to it.
When the past mining charter was published a year ago, the industry and government were locked in fights that spilled over into court.
The Minerals council, formally known as the Chamber of Mines, argued at the time that there was little consultation by Zwane.
Now Mantashe says after widespread consultation, all concerns have been considered.
“If you compare this charter and the other one that was taken to court by the chamber, very different animals and the reason for that is that we’re serious about listening to the concerns of all the stakeholders.”
In the previous version of the mining charter, mining companies had a year to comply with the 30% black ownership requirement, now the new document gives them up to five years to comply.
The draft mining charter conceded to the “once empowered always empowered” principle which was not the case in the past version.
This means South African companies will be credited for past black-empowerment deals even when their investors later sold their shares to whites or foreigners.
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