The Minerals Council South Africa (previously the Chamber of Mines) has rejected the third iteration of the Mining Charter – released by Minister of Mineral Resources, Gwede Mantashe, last Friday – with spokesperson Charmane Russell noting that “much more needed to be done”.
While recognising the “material improvement” of this iteration, she said the industry needed a charter that “promotes competitiveness, investment, growth and transformation for the growth and prosperity of South Africa”.
In a press statement issued last Sunday, the Council said that while it supported transformation of all elements of the exploration and mining value chain, the application of a 30% black ownership target to new Greenfields prospecting rights would result in a continuation of limited exploration – the lifeblood of new projects for the industry.
Interested parties have up to 27 July to comment on the draft charter.
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Minister of Mineral Resources, Gwede Mantashe.
