Mantashe: New Mining Charter will boost economic growth
Mineral Resources Minister Gwede Mantashe says the charter is the result of a seven-month long process of intensive engagements in the mining industry.
Mantashe’s unveiled some details of the 2018 Charter at a briefing in Pretoria.
The charter is due to be gazetted on Thursday.
Mantashe says that the charter is the result of a seven-month long process of intensive engagements in the mining industry and represents a consensus among those involved in the process.
A mining right holder is therefore expected to invest a minimum 5% of leviable amount (excluding the statutory skills development levy) on essential skills development #MiningCharter pic.twitter.com/1a0Me2f26A— Gwede Mantashe (@GwedeMantashe1) September 27, 2018
Mantashe says the new Mining Charter has benefitted from the input of mining companies, investors, mining communities, organised labour, the finance sector and Cabinet.
He says it’s an important contribution to transforming the sector and stimulating investment.
“The reality of the matter is that we are moving now, regulatory and political uncertainty is removed. It cannot be used as an excuse. We have a duty now to mobilise investment into mining in the country.”
Mantashe’s also announced that the long-delayed and much-contested Mineral and Petroleum Resources Development Act Amendment Bill is to be withdrawn from Parliament and that his department is already working on a new draft of the legislation, while a separate dispensation to govern oil and gas is also being developed.
WATCH: Mantashe gives a briefing on Mining Charter
(Edited by Zamangwane Shange)