Mining Charter

The backbone of the economy was once mining, but in the past decade challenges such as policy uncertainty have resulted in divestment. Since 2010, the Mining Charter has been amended, reviewed and revised several times and the latest charter, released last year, cut the value of listed mining shares by R51-billion on the day. The charter is now the subject of two court cases. Under former minister Ngoako Ramatlhodi, the Department of Mineral Resources made it mandatory for all mining companies to have a 26% BEE ownership. The department and the Chamber of Mines are waiting for a declaratory order on the “once empowered, always empowered” rule of charters 1 and 2. Mosebenzi Zwane became minister in 2015 after a draft second Mining Charter was revised. The relationship between Zwane and the industry has since hit rock-bottom.