CAROL PATON: By playing two sides, Malusi Gigaba takes a gamble on the economy’s strength
business live – Finance Minister Malusi Gigaba may have dumped the language of radical economic transformation but he has beefed up its content. At a news conference on Thursday.
The Mining Charter vindicates the downgrade, says Fitch
business live – Credit rating agency Fitch issued a statement on Monday night saying the new Mining Charter that Mineral Resources Minister Mosebenzi Zwane issued without industry consultation showed that its decision to cut SA’s sovereign credit rating to junk in April was correct.
Mining Charter set to worsen stakeholder relations – Bench Marks
mining weekly – The new Mining Charter is the flawed outcome of inadequate consultation with communities, the board of the Bench Marks Foundation said on Tuesday, when it warned that the document is poised to worsen stakeholder relations.
New charter won’t benefit mining
The Citizen – The future of South Africa’s largely stagnant mining industry could be decided in the courts if the Chamber of Mines goes ahead and implements the conditions in the new mining charter gazetted last week.
Investment boycott to intensify
moneyweb – The latest iteration of the Mining Charter is a torpedo that will shatter already fragile investor confidence.
Zwane’s radical Mining Charter in the firing line
Daily Maverick – “This process that the department of mineral resources embarked on is their own unilateral process,” said Chamber of Mines CEO Roger Baxter. “We’re not going to sign a document that we’re not committed to.” Companies must adhere to the charter, but, essentially, it’s up to them to implement it. By value, the Chamber represents 90% of South Africa’s mining companies.
Chamber of Mines will go to court over charter ‘negotiated in bad faith’
Business Day – The Chamber of Mines will approach the courts to interdict the implementation of the Mining Charter, rejecting the “unilateral imposition” of the document — which it had not seen since April 2016 and which had set unachievable and brand new targets, said CEO Roger Baxter.
SA mining in crisis as CoM takes Govt’s Mining Charter to court
Miningmx – South Africa’s mining sector as represented by the Chamber of Mines (CoM) is to turn to the courts in order to contest elements of a Mining Charter redraft published in the Parliament gazette earlier today.
Chamber of Mines to approach court to halt new mining charter
Eyewitness News – The Chamber of Mines has announced it's going to court to interdict the implementation of the new mining charter that was announced on Thursday morning by Mineral Resources Minister Mosebenzi Zwane.
How pernicious ideology is breaking SA’s mining sector
Miningmx – Evidence of this is apparent in the share prices of some of the country’s best known mining stocks. The Mining Charter in its current form makes no sense. Crimping profits to make new empowerment targets inviolably successful only hurts the ability of the mining sector to sustain itself, much less grow.