Minister of Mineral Resources Mosebenzi Zwane says that 30% of the country’s mines must be owned by black people.
Zwane was speaking in Pretoria on Thursday when he announced the new mining charter. He reiterated that new prospecting rights must have fifty percent black control.
Alan Seccombe, Business Day's mining editor says the key changes in this mining charter are the levels of ownership that the minister has announced.
He says the relationship between the minister and the Chamber of Mines seems dysfunctional at the moment.
The Chamber has refused to attend today's announcement saying that Zwane only invited them on Wednesday to a meeting just one hour just before his announcement and without adequate prior consultations.
A number of lawyers have already told me that they expect the chamber to take this charter to court almost immediately.— Alan Seccombe, mining editor at Business Day
There's clearly a lot of unhappiness in the Chamber of Mines about the way this charter has been handled.— Alan Seccombe, Mining editor at Business Day
Seccombe says the CEO of the chamber, Roger Baxter, had said on a number of occasions that there wasn't enough consultation with the mining sector who in the end have to implement these laws.
Being the major stakeholder it does feel a bit neglected and that this charter has been imposed on it.— Alan Seccombe, mining editor at Business Day
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