The new Mining Charter III has been in the news a lot over the last couple of days. Here is a mixed bag of that news in no particular order:
Minister of Mineral Resources Gwede Mantashe said on Sunday that the latest version of the Mining Charter would ensure mineworkers and mining communities reaped the benefits of mining companies’ operations, while shielding companies from unnecessary volatility.
Mineral Resources Minister Gwede Mantashe said the eight weeks of public engagements alrerady had been encouraging.
After the public comment process is complete, the bill will be sent to Parliament before heading up to President Cyril Ramaphosa’s desk for a signature.
The public has 30 days to submit their comments.
Comments need to be sent, in writing, to Ms Sibongile Malie at 70 Meintjies Street, Trevenna Campus, Sunnyside, 0007, or at Private Bag x59, Arcadia, 0001.
Webber Wentzel believes the minister’s amendment of the original Mining Charter, through the publication of the Mining Charter II and the Mining Charter III, was “beyond the scope of the empowering provision of the MPRDA” and therefore “ultra vires” (acting beyond his powers).
“Despite some improvements over the version produced to widespread dismay in 2017, [Mining Charter III] does not provide a framework for a competitive and sustainable industry,” the IRR said in a statement.
Mining communities have weighed in on the draft Mining Charter, saying that while there are some points of concern, the document appears to be workable.
Unfortunately, the much anticipated revised edition is a ham-fisted, awkwardly worded document that will merely result in more confusion. It is unlikely to entice new mining investment or lead to growth in the mining sector, and is likely to fail to do anything for workers and communities.
The Money Show’s Bruce Whitfield chats to legal expert Brandon Irsigler about the Mining Charter.
We at the Institute of Race Relations have consistently argued that if mining in South Africa is to live up to the country’s resource potential, an investment-friendly enabling environment is necessary. We have stressed that this requires not only more predictability but, critically, less governmental meddling in pursuit of ‘social’ ends which compromise business practice. If achieved, such an environment has the potential to unleash investment on a scale needed for true transformation of the sector.