Zwane vague on how Mining Charter will push 'radical transformation'

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Zwane vague on how Mining Charter will push 'radical transformation' - analyst

6 February 2017 5:22 PM

Mineral Resources Minister Mosebenzi Zwane says government will use the revised Mining Charter to implement radical economic transformation, but has not given enough detail.

This is according to mining and labour analyst Mamokgethi Molopyane who attended the first day of the Mining Indaba in Cape Town.

He says the Mining Charter is one of the tools the department will use to ensure - however he was not really detailed about what radical economic transformation means and how they see it unfolding.
— Mamokgethi Molopyane, mining and labour analyst

It's lacking details and processes on how they are going to unfold the Charter moving forward.
— Mamokgethi Molopyane, mining and labour analyst

It is a document with big aspirations, but one would have hoped that by now the charter would have refined itself and the details of what it wants to happen in the industry.
— Mamokgethi Molopyane, mining and labour analyst

More than 6 000 role-players are expected to attend the annual four-day event.

Molopyane says Zwane was vague on the specifics of how the Mining Charter will boost transformation.

She explains that there has been tension between government and mining companies over regulatory issues including beneficiation and ownership and the portion of profits designated to mining communities.

Zwane claims the Mining Charter is meant to address concerns about the pace of transformation in the industry.

He’s promised the revised Mining Charter, which has been at the centre of investment uncertainty, will be gazetted by March 2017.

Molopyane also reflected on how little acknowledgement was given to the lives lost as a result of the Lily Mine collapse a year ago.

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Written by: Qama Qukula