South Africa’s Mining Ministry is seeking public and stakeholder feedback on regarding a new set of mining laws. This comes as the country plans to raise $100 billion in investments from the minerals sector.
In light of these developments, South Africa’s Minister of Mineral Resources, Mr Gwede Mantashe hosted a two-day Summit on the Mining Charter this weekend, to further engage with stakeholders on the laws, known as the draft Mining Charter.
This follows stakeholder engagements held across the country on the Mining Charter, during which the department listened to stakeholder concerns and inputs on the Mining Charter.
The Mining Charter, developed in terms of South Africa’s Section 100 of the Mineral and Petroleum Resources Development Act (MPRDA) aims to ensure meaningful participation by black people in the industry, which is termed as a critical sector of the economy.
The Charter will see SA, the continent’s most-industrialized country, attempt to remove blockages to investment in a bid to attract as much as $100 billion over the next five years.
According to SA’s Mining Ministry, the public has until Friday 27th July, 2018 to submit written comments to the department on the draft Charter.
The engagement came just a day after mining group, Exxaro, South Africa’s largest coal producer announced that it had broken ground on a ZAR3.3 billion ($240 million), first-of-its-kind digital mine.
The initiative, known as the Belfast Implementation Project (BIP), is the last good-quality A-grade, high-yield coal deposit in Mpumalanga. It will start producing thermal coal in 2020.
According to Exxaro, the BIP will create close on 6,000 direct and indirect jobs during construction and the life of the mine, with almost 20,000 people benefiting.
Overall, the BIP is anticipated to reduce unemployment in the municipal district by 2%, supporting Exxaro’s strategic vision of powering better lives in Africa and beyond.
Ahead of the engagement, South Africa’s Department of Minerals and Energy visited 11 mining areas to obtain feedback on the Mining Charter.
The country’s government published the latest draft of the Mining Charter on June 15th after months of negotiations with companies, labour unions and communities.
The set of rules is aimed at redistributing the country’s mineral wealth more equally among South Africans to make up for racial discrimination during apartheid.