Tag: Mining Charter

Astute and timeous legal advice around foreign direct investment (FDI) transactions in the mining sector is necessary for efficient processes. FDI in South Africa fell by almost half in 2020, in line with the world-wide downturn caused by the global COVID-19 pandemic, reports the United Nations Conference on Trade and Development (UNCTAD).

The final version of the revised Mining Charter 2018 were announced by Minister Mantashe, who described the new Charter as one which represents a consensus among industry stakeholders, with compromises having been made on some of the contentious aspects of the version of the Charter published for comment in June 2018.

In what can be seen as a victory for the Chamber of Mines, the High Court ruled this week that South African mining companies aren't required to top up black ownership levels if they have previously met the minimum requirements. The court case concerned the interpretation of the so-called 'once empowered always empowered' principle contained in the Original Mining Charter (2002) and the 2010 Mining Charter.

As more South African politicians and policymakers call for “radical economic transformation” (RET) and others are suggesting “smoke and mirrors”, RET is not possible without a radical change in the way South African businesses see transformation as a whole.

Dr Martin Kaggwa | Executive Research Director | Sam Tambani Research Institute | kaggwam@satri.org.za | http://www.satri.org.za/ | The 2017 Revised Mining Charter has created animosity between...