New Mining Charter increases BEE requirements to 30%

PUBLISHED: Mon, 18 Jun 2018 12:10:33 GMT


The third Amended draft of the mining charter was officially released on Friday of last week. It has upped the BEE ownership target to 30 per cent. This decision has been met with some contention on the understanding of "once empowered, always empowered issue". Peter Major, a mining analyst with Cadiz Corporate Solutions, believes the amended Mining Charter will fail to bring new jobs and foreign investment. “If we are not careful we will end like the DRC Zambia and Zimbabwe for the next 30 years,” he says. Joining CNBC Africa to unpack the implications further is Jonathan Veeran, Partner at Webber Wentzel and Peter Leon, Attorney at Herbert Smith Freehills.

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