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Mining Charter suspension: A chance to get back to the negotiating table

A most positive development – rand rallies.

The Minister of the Department of Mineral Resources (DMR), Mosebenzi Zwane, has written to the Chamber of Mines to advise that the implementation of the new Mining Charter will be suspended until such time as the courts rule on the interdict seeking its suspension.

In other words, the implementation is suspended until the court rules on the Chamber of Mines’ urgent interdict to have it suspended for the duration it will take to have the charter reviewed by the courts. In return, the chamber has granted the lawyers representing the DMR more time to file their responding papers to the urgent interdict that was to be heard on the July 18. 

On Thursday, Moneyweb reported that finance minister Malusi Gigaba wanted to get the parties back to the negotiating table to thrash out issues surrounding the new charter, which has prompted the chamber to bring three separate legal motions against the DMR. 

Chamber of Mines CEO Roger Baxter, says nothing else has changed in their attitude toward the charter other than agreeing to push the dates out to September in return for implementation being suspended. “The damage that has been caused is so significant that we want to have this sorted out one way or the other – either by having a court rule on the matter or by negotiating a workable solution with the DMR.”

“I think it’s a gesture of good faith by the minister and one of the most positive developments of the last few months,” is how Warren Beech, head of Mining at law firm Hogan Lovells characterised the move by minister Mosebenzi Zwane.

“It buys the DMR two months to assess their options. I think political pressure is being brought to bear on him, and I think there are a number of constitutional and company law issues in the charter that makes the chamber’s case very strong. So he would be loath to risk taking a knock in the courts over them. But I think it’s a great opportunity for the two parties to come back to the negotiating table,” says Beech.

The rand strengthened immediately on the back of the news – moving below R13.16 to the US dollar.

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I guess your Gupta “friends” will be very very disappointed as they are the only people that ever benefits. Oh well damage has been done Investors gone and will not be running back any time soon and oh you shed 8500 jobs. I guess well done is in order….

“Robert in Sydney” is surely watching this website for any bad news justifying his ‘well thought through and on time escape ‘ to Aus. Bad news of SA is certainly like music in his ears and I can just hear him say “I told you so”. Imagine when SA turns the tide (which i do belief will happen) what he will say.

Surely one of the key takeaways is how can the Mining Minister release a Mining Charter without proper negotiation? How does someone with this much power and responsibility – who had not worked one day in the mining industry before his absurd appointment – act so irresponsibly (and get away with it). Reckless and outrageous plus he hides behind the now ridiculous ‘we are doing it for the poor’ when it is so obviously negative for everyone. I’m so demoralised and disgusted with how this country is being treated by the ruling party that it will be a miracle if South Africa is not a wasteland in 10 years time.

Politics is at play here. Let the Chamber of mines fight this battle, they are doing a great job. Let the Reserve Bank battle it out with Busi. We are being played! Our focus on Eskom has been diminished. The Gupta’s are milking Eskom on a daily basis. We must put all our efforts to support the likes of Amabungane and Outa. Our focus must be to close all Gupta companies, as soon as possible, in South Africa else we are doomed. The same with Gigaba. He does not even mention the controlling of expenses in the Municipalities or the Soe’s. His solution is a 14 point plan on paper and we all know that all ANC plans are non deliverables. Guys, let us focus on getting the Gupta’s out!!!!

What do you mean back to the table – The COM were not there in the first instance!!!!!

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