The Minister of Mineral Resources has published the draft Reviewed Broad Based Black-Economic Empowerment Charter for the South African Mining and Minerals Industry, 2016 for public comments.
The revised draft comes against the backdrop of a legal uncertainty of the “once empowered – always empowered” argument, and the consequential locking in of empowered partners in the mining industry. It remains to be seen in what manner the outcome of the declaratory order being sought in this respect will have on the new draft, which seeks to address this rather unilaterally from the DMR’s side. The new draft also reflects a number of other more stringent requirements and has in other respects already elicited further criticism. The further draft will no doubt add to the growing choir of concerned miners who find it increasingly difficult to keep up with seemingly endless legislative changes and policy uncertainty.
Any person who wishes to submit representations or comments in connection with Draft Reviewed Mining Charter is invited to do so within 30 days from the date of publication of this notice (i.e. on or before 16 May 2016).
