Tuesday 17 October 2017

South Africa Mining Charter a ‘Living Document,’ Minister Says

South Africa Mining Charter a ‘Living Document,’ Minister Says
(Bloomberg 10/04/17)

South Africa’s government is open to talks over the country’s much-criticized mining charter but the industry must do more to benefit the black majority, Mineral Resources Minister Mosebenzi Zwane said.

The mining industry, represented by the Chamber of Mines, has rejected the government’s new rules, saying extra levies and black-economic empowerment requirements threaten to curb the appeal of investing in projects. A judicial review of the legislation is scheduled to be held in December, in which Zwane must justify the new measures to a bench of judges.

The charter, which was published in the Government Gazette in June, is “a living document that’s the subject of the court,” Zwane said in a speech in Johannesburg Tuesday. “As government and this department, our doors are always open to listen to the people of South Africa -- business, labor, communities, investors. We are very mindful of the interest of investors in our country.”

Read more at: https://www.bloomberg.com/news/articles/2017-10-03/south-africa-mining-c...

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