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Zwane suspends south African mining charter
South Africa's contentious mining law update, which increased mandatory black ownership, management participation and suppliers has been suspended, the country's Chamber of Mines said on Friday, July 14. The new Mining Charter was introduced last month to the shock of the industry, which had not been consulted in its creation. Among the provisions were an increase of black ownership from 26% to 30%, and at least 70% of all suppliers were to be from black-owned firms. In response, the chamber has applied for a court interdict against the Department of Mineral Resources to have the charter set aside.
Zwane suspends south African mining charter
South Africa's contentious mining law update, which increased mandatory black ownership, management participation and suppliers has been suspended, the country's Chamber of Mines said on Friday, July 14. The new Mining Charter was introduced last month to the shock of the industry, which had not been consulted in its creation. Among the provisions were an increase of black ownership from 26% to 30%, and at least 70% of all suppliers were to be from black-owned firms. In response, the chamber has applied for a court interdict against the Department of Mineral Resources to have the charter set aside.
Zwane suspends south African mining charter
Venage, Gavin du (author)
2017
Article (Journal)
English
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