You are currently viewing our desktop site, do you want to visit our Mobile web app instead?
Complete our online survey and
get 10% discount on our
Insider Gold annual subscription.
 Registered users can save articles to their personal articles list. Login here or sign up here

SA miners to challenge new law in court next year

The firms are testing three aspects of the government’s revised mining charter.

A South African court will in April hear an application by mining companies challenging key provisions of a new code for the sector.

The firms are testing three aspects of the government’s revised mining charter, which sets out rules on ownership, investment and exploration, according to Tebello Chabana, the spokesman of industry body Minerals Council South Africa. The remaining provisions have been agreed on and companies have started implementing them, Chabana told reporters in Johannesburg Wednesday.

The legal challenge centres on whether previous black-empowerment transactions should be recognised even after the black shareholders exited, local procurement rules and the licensing for some minerals.

“We thought we were getting closer to resolving these issues, but at the end of the day the matter is still going to court,” Chabana said.

The charter, which aims to distribute the industry’s mineral wealth more equally among citizens after the injustices of apartheid, was first issued in 2004 and updated in 2010.

© 2019 Bloomberg L.P.

Get access to Moneyweb's financial intelligence and support quality journalism for only
R63/month or R630/year.
Sign up here, cancel at any time.

COMMENTS   2

To comment, you must be registered and logged in.

LOGIN HERE

Don't have an account?
Sign up for FREE

Fight the socialism or die as an industry – simple as that !!!

Too late – the industry is in its twilight years.
They are now fighting over the last spoils form a once great industry.
Just look at what happened at RT in Richards Bay today … Cant mine because of violent protests and lawlessness and what does the useless ANC guuberment do ? Fight over once empowered always empowered ….

End of comments.

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR

Podcasts

NEWSLETTERS WEB APP SHOP PORTFOLIO TOOL TRENDING CPD HUB

Follow us:

Search Articles:Advanced Search
Click a Company: