...Clearly, the ANC wasn’t involved. The 60 participants, according to the Minister, are probably mainly based in Dubai...— Bernard Swanepoel, Joburg Indaba
Mineral Resources Minister Mosebenzi Zwane released Government’s revised Mining Charter on Thursday.
It raises the minimum threshold for black ownership of mining companies to 30 percent from 26 percent.
The revised Mining Charter gives companies 12 months to meet the target, amongst a raft of other regulations.
Investors are punishing mining stocks.
The Chamber of Mines said it would challenge the new rules in court, arguing that there had been insufficient consultation in drawing up the charter.
The Money Show’s Bruce Whitfield interviewed Joburg Indaba Chairperson Bernard Swanepoel.
Listen to the interview in the audio below (and/or scroll down for more quotes from it).
We’re losing out on an opportunity to make mining contribute to growth in the country.— Bernard Swanepoel, Joburg Indaba
The ANC should not have been surprised. There’s a lack of coordination.— Bernard Swanepoel, Joburg Indaba
With this charter we’re putting the mining industry in harvest mode.— Bernard Swanepoel, Joburg Indaba
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
Recommendedby THE NEWSROOM
The Money Show’s Bruce Whitfield interviews EWN Parliamentary Reporter Lindsay Dentlinger.
Bruce Whitfield talks to Euphonik (aka Themba Nkosi) about his attitude to money (hopes and fears, successes and failures, etc.)
Bruce Whitfield interviews Dan Ariely, co-author of "Dollars and Sense: How We Misthink Money and How to Spend Smarter".
These are the three best shares to buy right now, says stockbroker and portfolio manager Nesan Nair.
The Money Show’s Bruce Whitfield interviews Old Mutual Asset Management Economist Johann Els.
Bruce Whitfield asks Business Day Editor-in-Chief Peter Bruce to speculate on President Cyril Ramaphosa’s Cabinet.
Certified biomimicry professional & founder of Biomimicry SA Claire Janisch chats about how biomimicry can help humans adapt.
The Hawks are in possession of video footage showing Gupta, wanted in connection with Vrede dairy farm scandal, leaving SA.
The JoJo brand has entrenched itself in the psyche of South Africans. Bruce Whitfield interviews its MD, Grant Neser.
Political analyst Richard Calland says there was a sinister and threatening tone to President Zuma's interview with the SABC.
Cyril Ramaphosa's ex-wife says abuse allegations spread by EFF leader Julius Malema are an attempt to tarnish his reputation.
These are the emergency numbers you should have on your cellphone and this is what you must understand about how they work.
The magazine describes Cape Town as a city flanked by stunning beaches and calls it “The African Capital of Cool”.