We can expect to see the new mining charter in April. The press is starting to talk a little more about it. I blogged last year about Pine Pienaar
"The fatal flaw in the Mining Charter is the obsession with measuring black empowerment in terms of percentage equity stakes instead of taking an approach based on value. I think it’s often far better to have a 5% stake in a strong business than 51% of a weak business.
And this issue is now being debated at the Mining Charter review forum.
THE need to dilute black economic empowerment (BEE) stakes in mining companies below legislated levels was under serious discussion with government according to Exxaro Resources CEO Sipho Nkosi
Nkosi also happens to be the president of the Chamber of Mines.
You know things are looking up when Peter Leon is "cautiously optimistic" about the outcome of the charter process
There was initial concern when the government announced last year that the review had been conducted, apparently without input from the mining industry, but the Minister said in November that the Chamber of Mines must be consulted, and that the review would not be released until that happened. Shabangu appears “much more open to an inclusive process” than some of her predecessors may have been, Leon noted.
Leon is known to be very outspoken about the charter and those dodgy codes they published last year - so cautiously optimistic is probably very positive.
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