Pretoria � The North West Provincial Government has welcomed the newly revised Mining Charter, saying it will improve the lives of ordinary people living in impoverished villages, townships and small towns.
North West Premier Supra Mahumapelo said the charter will benefit the communities who live in mining towns in the province.
Platinum and other minerals are mined in our province but they benefit [other] countries… Our people in the villages, townships and small dorpies [towns], who are hard hit by poverty, unemployment and inequality, will now begin to benefit, thanks to the revised charter, Premier Mahumapelo said.
He said the Mining Charter has the potential to rebrand, reposition and renew the province.
The Mining Charter was approved by Parliament and gazetted. Mineral Resources Minister Mosebenzi Zwane held a briefing on 15 June on the revised charter.
The new charter, amongst others, requires the mining companies to raise black ownership levels by 4% from 26% to 30% within a year. The charter also necessitates that a new prospecting right must have a minimum of 50% plus 1 Black Person shareholding, which must include voting rights.
As for mining communities, the new Mining Charter stipulates that 8% of shareholding is allocated to mine communities, to be held through a trust. Also, the mining right must have 30% Black Persons’ Shareholding, with the 30% shareholding to be apportioned between employees, communities and entrepreneurs in a specific manner, the provincial government said.
With regard to the transfer of rights, a holder who sells their mining assets must give black-owned companies a preferential option to purchase.
Source: South African Government News Agency