Putting lid on the coffin of mining

THE NEW Mining Charter announced recently by Mineral Resources Minister Mosebenzi Zwane, which was developed secretively and without consultation – even the ANC was caught unaware – has wiped R51 billion off the industry’s share value.

The charter will have the result of putting the lid on the coffin of the shrinking mining industry.

This is not my opinion alone, but insiders in the industry, analysts and the Chamber of Mines are terrified about the consequences it would have in an industry that has been struggling for years and has lost more than 60 000 jobs in the last five years and is currently in the intensive care unit.

The charter, if implemented, would scare off investors, and would be a disaster as a lot of mines would start shedding more jobs than they already have.

This charlatan Zwane, one of the most tainted, compromised and captured individuals, as Thuli Madonsela’s report exposed, as well as the barrage of emails exposing him and flooding our media daily, has the audacity to pontificate and refer to the new charter as “a catalyst for economic growth, job creation and a bigger participation in key sectors”.

His statement is at best despicable and at worse criminal, and he must face the music behind bars – and not in the future, but today.

So much for growing our economy. Bryanston