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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.

Mineral Resources Minister Gwede Mantashe. Picture: @DMR_SA/Twitter

CAPE TOWN - Mineral Resources Minister Gwede Mantashe says the new Mining Charter will create regulatory certainty, boost economic growth and pave the way for the transformation of the mining sector.

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.

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that the long-delayed and much-contested Mineral and Petroleum Resources Development Act Amendment Bill is to be withdrawn from Parliament and that his department is already working on a new draft of the legislation, while a separate dispensation to govern oil and gas is also being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)