The Mining Charter is a step towards creating regulatory and policy certainty in South Africas mining industry, says Gwede Mantashe.
Jul 03, 20190183;32;IF the third version of the Mining Charter is as investor friendly as mines and energy minister, Gwede Mantashe, claims it is, where is the flood of new investment into South Africas dwindling mining sector? Since the latest charter was gazetted last year on September 27, Rio Tinto announced the go ahead of its long deferred Zulti South
Oct 08, 20180183;32;While the Precious Metals Act, 2005 and the Diamonds Act, 1986 currently require the South African Diamond and Precious Metals Regulator to have regard to the requirements of the 2018 Mining Charter, the 2018 Mining Charter provides for the specific application of certain of the elements of the 2018 Mining Charter with variations and exemptions depending on the size of the licence holder.
Sep 20, 20180183;32;South Africa's cabinet approved a long delayed mining charter that sets out requirements for black ownership levels and backed the withdrawal of a mining bill after industry opposition, a minister
South Africa's new mining minister Gwede Mantashe said on Wednesday he will finalize the latest version of an industry charter which lays out requirements for black ownership levels and other
Mining firms are also being hurt by government policies. A new mining charter introduced last month by South Africas mining minister, Mosebenzi Zwane, would force companies to ensure that at least 30% of their shares are in black hands, up from the current minimum of 26%.
Oct 02, 20180183;32;South African Mineral Resources Minister Gwede Mantashe issued a new Mining Charter last week, seeking to reduce uncertainty and boost investment in the sector.
The Mining Charter, 2018 will increase the target to procure services from B BBEE entities from 70% to 80% and the target to procure goods from B BBEE entities from 50% (in respect of consumer goods) and 40% (in respect of capital goods) to 70% (presumably in respect of both capital and consumer goods).
Oct 08, 20180183;32;On 27 September 2018, the South African Minister of Mineral Resources, Gwede Mantashe (the quot;Ministerquot;), published the Broad Based Socio Economic Empowerment Charter for the South African Mining and Minerals Industry, 2018 (the quot;2018 Mining Charterquot;).It is indicated that quot;implementation guidelinesquot; are to be published in the near future.
New Mining Charter released, with new BEE requirements Boards must comprise 50% black South Africans, 20% of which must be black women
May 15, 20190183;32;The recently published South African 2018 Mining Charter aims to find a middle ground by instilling investor confidence while simultaneously driving transformation.
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Dec 17, 20180183;32;The South African Government has finally approved its much delayed mining charter. While it is designed to boost black ownership of projects, some observers have argued that it could leave local communities even further out of the loop than before.
Broad Based Socio Economic Empowerment Charter for the South African Mining Industry VISION All the actions and commitments set out below are in the pursuit of a shared vision of a globally competitive mining industry that draws on the human and financial resources of all South Africa's people and offers real benefits to all South Africans.
Aug 19, 20190183;32;South African mining stocks lost R50 billion after the first draft of Mining Charter III was published in June last year. The South African government and the Chamber of Mines are in the process of formulating a new Mining A major shake up is on the cards at the department of mineral resources.
In 1964, the company handed over its mineral rights to the government of Zambia, and the following year, the business of the British South Africa Company was merged with the Central Mining amp; Investment Corporation Ltd and The Consolidated Mines Selection Company Ltd into the mining and industrial business of Charter Consolidated Ltd, of which
Jun 22, 20170183;32;South Africa What You Need To Know About The 2017 Mining Charter. Within hours of the gazetting of the 2017 Mining Charter, the Chamber of Mines of South Africa (the quot; Chamber quot;) issued a public statement confirming that it rejects the unilateral development and imposition of the 2017 Mining Charter on the industry,
Mar 28, 20190183;32;South African mining companies are challenging parts of a government charter aimed at redistributing the countrys mineral wealth, saying it will deter new investment in the industry.
Sep 14, 20170183;32;South Africa puts contentious mining charter on hold. The mining charter could require miners operating in South Africa, including Anglo American and Glencore, to permanently increase stakes held by black shareholders to 30 per cent or more within a year in order to redress post apartheid inequality in the industry. An earlier charter set this
Introduction. The Mineral and Petroleum Resources Development Act 28 of 2002 (MPRDA) provides for the Minister of Mineral Resources to develop a broad based socio economic empowerment charter (the Mining Charter) that sets out targets for the participation of historically disadvantaged South Africans (HDSAs) in the South African mining industry.
Mining in South Africa was once the main driving force behind the history and development of Africa's most advanced and richest economy. Large scale and profitable mining started with the discovery of a diamond on the banks of the Orange River in 1867 by Erasmus Jacobs and the subsequent discovery and exploitation of the Kimberley pipes a few years later.
The Minerals Council South Africa, which represents most producers, says its studying the latest version. Subscribe to Fin24s newsletter here ; Here are five highlights from the latest Mining Charter 1. Minimum Black Ownership (Existing Mine Rights) What happened before? The first two charters set it at 26%.
The Minister published Mining Charter III under section 100 (2) (a) of the Mineral and Petroleum Resources Development Act, 2002 ( MPRDA ) which empowers him to develop a policy, rather than a set of binding rules, and to do so only once, within six months of the MPRDAs promulgation date (1 May 2004). This, in fact, occurred on 13 August 2004.
The Mineral and Petroleum Resources Development Act 28 of 2002 (MPRDA) provides for the Minister of Mineral Resources to develop a broad based socio economic empowerment charter (the Mining Charter) that sets out targets for the participation of historically disadvantaged South Africans (HDSAs) in the South African mining industry.
south african mining production The 2017 Mining Charter published by government in June has seen its fair share of debate, opening intense discussions on the industrys future. Outside of this policy debate, Stats SA recently published figures showing how the industry performed in 2016 and 2017.
Mar 27, 20190183;32;South African Mining Charter Challenge Dents Ramaphosa Plans More (Bloomberg) South African mining companies are challenging parts of a government charter aimed at redistributing the countrys mineral wealth, saying it will deter new investment in the industry.
Mar 27, 20190183;32;South African mining companies are challenging parts of a government charter aimed at redistributing the countrys mineral wealth, saying it will deter new investment in the industry.