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BKCOB | Mantashe releases a new mining chapter with new BEE requirements

On Sunday, the Mineral Resources Minister, Gwede Mantashe, announced that the current draft of the mining charter will be totally different from the previous charter which faced controversy in 2017.

After the State of Nation Address (SONA) in February by President Cyril Ramaphosa, he mentioned an engagement of a new charter which looked at accommodating the transformation face of mining in South Africa.

The drafted mining charter looks at tackling issues of the Black Economic Empowerment (BEE) target, which looks at companies having a 30% licence of the BEE and ensuring that employees have a stake in mining companies operations and performance.

From the views of Mantashe, the charter is looking at empowering transformation and once the charter has been finalised other issues will be taken into consideration including the exhumations of the graves.

When previous Minister, Mosebenzi Zwane, proposed the previous charter in 2017 there were many implications because he was still under investigations for being in partnership with the Guptas regarding the Vrede dairy farm when he was still the MEC of Agriculture in the Free State.

Written by: Asavela Fekema
Communications Intern
Border-Kei Chamber of Business