A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
South Africa's mining industry opposes new mining charter
The opposition of the South Africa's mining industry to the new version of the Mining Charter promulgated by the Department of Mineral Resources (DMR). The charter, since it was introduced in 2002, has provided rules for black participation within the mining sector. However, previous versions have always been drawn up by consensus between government officials and the industry. Key provisions of the new Mining Charter include raising black ownership threshold to 30% from 26%, 50% plus one share black ownership of prospecting rights, also up from 26% to 70% of procurement of mining goods to be purchased from black economic empowerment companies and the demand for companies to pay 1% of their annual turnover to the 30% black economic empowerment (BEE) structure before any distribution to all shareholders.
South Africa's mining industry opposes new mining charter
The opposition of the South Africa's mining industry to the new version of the Mining Charter promulgated by the Department of Mineral Resources (DMR). The charter, since it was introduced in 2002, has provided rules for black participation within the mining sector. However, previous versions have always been drawn up by consensus between government officials and the industry. Key provisions of the new Mining Charter include raising black ownership threshold to 30% from 26%, 50% plus one share black ownership of prospecting rights, also up from 26% to 70% of procurement of mining goods to be purchased from black economic empowerment companies and the demand for companies to pay 1% of their annual turnover to the 30% black economic empowerment (BEE) structure before any distribution to all shareholders.
South Africa's mining industry opposes new mining charter
2017
Article (Journal)
English
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