Urgent interdict delayed after Zwane undertaking

THE CHAMBER of Mines has suspended the urgent interdict on the third version of the mining charter, following an agreement with the Department of Mineral Resources.

“In terms of the agreement, the Minister of Mineral Resources has given a written undertaking that the Reviewed Mining Charter will not be implemented until judgment has been handed down in respect of the chamber’s review application, which has rendered the granting of an interdict by the court not necessary at this stage,” the chamber said.

A hearing on the urgent interdict was set to be held today and tomorrow in the North Gauteng High Court in Pretoria. The review is now expected to be heard on December 13 and 14 by a full bench of judges.

“The minister has also undertaken that if he makes any reference in public to the Reviewed Mining Charter, he will simultaneously make reference to his written undertaking and that the chamber has brought review proceedings to set aside the charter,” said the chamber.

Zwane’s written undertaking is scheduled to be presented to the High Court of Gauteng today.

This after Zwane told a thousand delegates at the annual Africa Downunder conference in Perth, Australia, that the charter was law and all right-holders in South Africa were expected to implement it.

Roger Baxter, the chamber president, told the conference that policy changes in South Africa had eroded investor confidence.

Earlier yesterday the National Union of Mineworkers (NUM) said it would approach the North Gauteng High Court as an intervening party, or friend of the court, in the court interdict by the Chamber of Mines against the implementation of the charter.

The NUM said it decided to approach the court after studying the founding and responding affidavits of both the chamber and Zwane.

Submissions

“Although we are not going to oppose the application by the Chamber of Mines, the NUM will be making critical submissions to the court. In defence of the gains our members have benefited from in various charters like Employee Share Ownership Schemes, improved Home Ownership options and lastly, we want to also indicate the importance of this instrument in light of mining industry’s resistance to transformation and the sector being not meaningful for communities and employees in general.”

On Tuesday, Moody’s Investors Service, said that South Africa’s uncertain political and regulatory environment could fuel the restructuring trend in platinum and gold companies.