Mining Charter to be finalised soon – Mantashe

Mineral Resources minister, Gwede Mantashe. Source: GCIS

The draft Mining Charter, published in June, was likely to be finalised towards the end of the year, Mineral Resources minister, Gwede Mantashe, announced yesterday.

The new Charter proposes to raise black ownership at permit-holding mining companies to 30% from 26% within the next five years and raise profits paid to employees and communities by 1%.

Additionally, the deadline for the public to submit comments on the draft before it is finalised and gazetted has been extended from 27 July to the end of August.

Mantashe noted that the draft would, in the meantime, be taken to the Ministry of Planning, Monitoring and Evaluation for a socio-economic impact assessment. He said the Department of Mineral Resources would be looking into aligning the Charter to the Black Economic Empowerment (BEE) Codes.

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