Investors demand consultative process on Mining Charter 2017
Asisa – The Association for Savings and Investment South Africa (ASISA) calls on Mineral Resources Minister, Mosebenzi Zwane, to withdraw the contentious 2017 Mining Charter and to appoint a proper representative body to renegotiate the mining sector empowerment Charter.
Uncertainty reigns over banks’ transformation targets
Fin24 – Minister of economic development Ebrahim Patel has moved to calm rattled bankers who fear that the Financial Sector Charter (FSC) could go the way of the Mining Charter and further oblige banks and financial services institutions to radically accelerate the pace of transformation in the R4.8tr industry.
Context and analysis show SA’s top firms are not hoarding cash
Business Day – There are claims that South African companies are hoarding cash as a protest against the ANC government’s policies or lack of policy.
Mining Charter: Zwane granted a delay on review hearing
Daily Maverick – Mineral Resources Minister Mosebenzi Zwane’s mining charter threw the industry into turmoil. Despite backing the charter, he hasn’t yet been able to defend it in court, once again postponing the review application from the Chamber of Mines.
Why the Chamber’s deal with Zwane is a strategic masterstroke
Miningmx – There's more than meets the eye to the Chamber of Mines’ decision not to interdict the redrafted Mining Charter. This is according to market sources who say the Chamber may concluded a strategic masterstroke.
Mining Charter halted till after December
Fin24 – Mineral Resources Minister Mosebenzi Zwane has backed down for a second time on the controversial Mining Charter, after he undertook to halt implementation until arguments against the charter have been heard later this year.
Zwane pulls out of legal row with chamber
Business Day – On the eve of an urgent interdict against the latest Mining Charter, Mineral Resources Minister Mosebenzi Zwane reached an agreement with the Chamber of Mines to wait for a judicial review in December rather than appear in court on Thursday.
Venkat optimism dimmed as AngloGold SA mines face “the inevitable”
Miningmx – Two years ago – when interviewed for the 2015 Miningmx yearbook – AngloGold Ashanti CEO Srinivasan ‘Venkat’ Venkatakrishnan hit all the right optimistic notes required from a heavyweight South African mining executive talking about the future of the country’s mining sector.
Regulatory uncertainty could hasten closure of SA's mines‚ Moody’s warns
Times Live – Moody’s ratings agency warned on Tuesday that ongoing regulatory uncertainty in SA coupled with a firmer rand against the dollar would hasten the closure of the country’s gold and platinum mines.
Moody’s predicts gold mines will close if Charter crisis persists
Miningmx – The writing is on the wall for some of South Africa’s gold and platinum mines, according to a report by ratings agency, Moody’s, which said companies such as AngloGold Ashanti, Gold Fields and Sibanye-Stillwater were likely to continue restructuring, especially if expansionary capital was held in abeyance.