New Mining Charter

Last week, South Africa released their revised version of the Mining charter, which seeks to clarify further targets of ownership; stating that 20% of the 30% BEE targets must go to BEE entrepreneurs, instead of the previous version of the charter which made provision for 14%. According to the mining charter it has also introduced a minimum of 5% non-transferable carried interest to host communities, or a minimum 5% equity equivalent benefit. The Charter further outlines requirements for Junior Miners – i.e. a mining right holder with a single or multiple mining rights, having a combined annual turnover of less than R150m. To assist us on this we are joined by: •Thembinkosi Dlamini, Senior Extractives Lead at Oxfam South Africa•Brown Motsau, deputy chair of the alternative Mining Indaba’s steering committee. •Ms Sibongile Malie, Mineral Resource Departmnt’s Director of Mineral Policy Development and a member of the mining charter drafting team.