New Mining Charter a consensus document - Gwede Mantashe


Minister of Mineral Resources Gwede Mantashe on Thursday morning described the reviewed Mining Charter as a reflecting a “consensus among stakeholders” in SA's mining sector. 

The charter, which in 2017 caused friction between Former Mineral Resources Minister Mosebenzi Zwane and industry employers organisation the Chamber of Mines, will be published electronically during the course of the day on Thursday on the website of the department of mineral resources. 

The long-awaited release of the charter comes a week after Minister of Communications Nomvula Mokonyane confirmed that it had been approved by Cabinet.

The charter gives guidelines for ownership, beneficiation, employment equity and procurement selection for mining rights holders in South Africa.

Mantashe said at a media briefing in Pretoria on Thursday that to entrench regulatory certainty for investors and provide security of tenure, an existing mining right holder who achieved at least 26% black empowerment ownership would be recognised as compliant during the period of their right.

“This recognition is not applicable upon renewal and is not transferable to a new owner in the case of a transfer or sale,” said Mantashe.

The minister said new mining rights, however, would have to have a 30% BEE shareholding which would be applicable for the duration of the mining right.

A minimum of 5% non-transferable carried interest rights must go to qualifying employees, while another 5% must go to host communities.

"The department has prioritised proactive engagement with all our stakeholders. It is in our collective interest to ensure a sector that is thriving and transformed," Mantashe said.

SA's mining industry has over the past decade faced job losses, a fall in its exploration budget and rising input costs. 

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For 14 free days, you can 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. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed. 
Subscribe to News24
Rand - Dollar
Rand - Pound
Rand - Euro
Rand - Aus dollar
Rand - Yen
Brent Crude
Top 40
All Share
Resource 10
Industrial 25
Financial 15
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders