ESG

SA mining charter still a tool for 'achieving the dream of transformation'

South Africa's beleaguered mining charter remains a tool for transformation, according to mineral resources and energy minister Gwede Mantashe.

 South Africa mineral resources and energy minister Gwede Mantashe addressing the conference in Limpopo yesterday

South Africa mineral resources and energy minister Gwede Mantashe addressing the conference in Limpopo yesterday

He made the comments at a mining conference in Limpopo yesterday, a week after the High Court ruled in favour of the Minerals Council South Africa's challenge to the 2018 charter.

The court deemed the charter policy, not legislation, and removed or set aside challenged aspects, including the need for miners to top up black economic empowerment shareholdings to 30% and meet procurement targets of 70% of goods and 80% of services from BEE enterprises.

"We need to ensure that the mining industry in South Africa gets transformed," Mantashe tweeted from the Limpopo Mining Investment Conference yesterday.

"[The] mining charter remains a regulatory instrument premised on achieving the dream of transformation that would set the country on a path to inclusive growth and development."

He told the conference entrepreneurship should be encouraged to deal with the challenges of unemployment, poverty and inequality.

Small-scale miners needed to be supported, "so that people establish themselves and build wealth", he said.

New mining hubs

Mantashe's department had identified the North West, Northern Cape and Limpopo as areas where mining could see exponential growth without taking away the contributions of other provinces, the minister told the conference.

"We can see that Limpopo has a lot of potential to produce and be a great mining hub," he said at the event.

He wanted to see miners' head offices and processing plants move to these provinces and not operate from Gauteng.

South Africa's economy was likely to contract in the third quarter after deadly riots, looting and arson erupted in July and weighed on activity in the eastern KwaZulu-Natal province and the commercial hub of Gauteng - the two biggest provinces by contribution to GDP, Bloomberg reported earlier this month.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.