Zwane, mining bosses to hold 2-day meeting over draft Mining Charter

The new draft bill requires 26 percent black ownership of mining rights at all times.

Mineral Resources Minister Mosebenzi Zwane. Picture: GCIS.

CAPE TOWN - Mineral Resources Minister Mosebenzi Zwane is to hold a two-day meeting with mining bosses to discuss government's new draft Mining Charter, which requires 26 percent black ownership of mining rights at all times.

Zwane came under fire from opposition parties over the plan and his alleged links to the Gupta family during a debate on his department's budget vote in the National Assembly yesterday.

He says the Mining Charter was reviewed in order to sharpen its impact and speed up transformation in the sector.

"We did not have any malice in terms of publishing the Mining Charter."

The Democratic Alliance (DA)'s James Lorimer claimed the new draft would scare off investors.

"A better name for it might be the ANC's suicide note for mining. One analyst described it as another brick in the wall that will block access to money for our mining industry."

Zwane says the issues will be thrashed out when he meets over two days with mining executives.

"I'm sure we'll be able to find each other, they know our stance. We are going to transform South Africa together."

Zwane appeared unfazed by opposition heckling him about his alleged links with the Gupta family as he delivered his maiden budget speech.