Revised Mining Charter approved by Cabinet

Minister of Mineral Resources Minister Gwede Mantashe
Minister of Mineral Resources Minister Gwede Mantashe

Cabinet approved the revised Mining Charter during a meeting on Wednesday, Minister of Communications Nomvula Mokonyane said on Thursday, while briefing reporters on the outcomes of a Cabinet meeting. 

The revised version has not been made public yet. 

"The Mining Charter was deliberated upon and indeed Cabinet did approve it. The details will be unpacked when the economic recovery plan is announced and explained,” said Mokonyane.

President Cyril Ramaphosa will on Friday unveil a stimulus package that he hopes will kick-start South Africa’s lagging economy. 

Mokonyane said that Minister of Mineral Resources Gwede Mantashe had also withdrawn the Mineral and Petroleum Resources Development Amendment Bill for adjustments.

“The department through the minister has opted to withdraw the MPRDA and primarily focus on the aspects that relate to gas and oil.

“His intervention will take place and then be presented to Cabinet. His interventions will propose assistance for the sector and we support the intervention,” Mokonyane said.

The Minerals Council - formerly the Chamber of Mines - has previously argued that the current version of the draft adjustment bill should be withdrawn as it would contribute to uncertainty in the mining sector. 

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For only R75 per month, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
Subscribe to News24
ZAR/USD
16.19
(-0.10)
ZAR/GBP
21.11
(-0.12)
ZAR/EUR
19.19
(-0.12)
ZAR/AUD
11.55
(-0.13)
ZAR/JPY
0.15
(-0.14)
Gold
1901.55
(+0.01)
Silver
24.57
(+0.10)
Platinum
902.03
(+0.40)
Brent Crude
41.85
(-1.66)
Palladium
2378.04
(+0.61)
All Share
55339.58
(+0.99)
Top 40
50692.28
(+0.83)
Financial 15
10790.70
(+3.99)
Industrial 25
74905.70
(+1.05)
Resource 10
52561.57
(-0.49)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
24% - 68 votes
No, I did not.
52% - 148 votes
My landlord refused
24% - 70 votes
Vote