South African Mine Charter Review Ready This Month, Minister Shabangu Says
South African Mine Charter Review Ready This Month
Tony Ashby/Bloomberg
South Africa's Mines Minister Susan Shabangu speaks during the 2010 Africa Down Under Conference in Perth.
South Africa's Mines Minister Susan Shabangu speaks during the 2010 Africa Down Under Conference in Perth. Photographer: Tony Ashby/Bloomberg
South Africa, the world’s largest platinum producer, will release a review of the nation’s Mining Charter this month, according to Mines Minister Susan Shabangu.
“We have committed to the charter review and the outcome is due out this month,” Shabangu said at a conference in Perth, Australia today, without giving a precise date.
The 2004 charter required companies to sell 15 percent of their South African assets to black investors by the end of 2009 and 26 percent by 2014 to make amends for apartheid, the segregation policy that ended in 1994. The government is required to review the document five years after its inception.
The review will be published “within weeks,” Jeremy Michaels, a spokesman for the Department of Mineral Resources, said yesterday. Shabangu had said June 30 that the review, which started last year, would be completed in August.
South Africa is also the world’s biggest producer of ferrochrome and the fourth-largest gold producer after China, Australia and the U.S.
To contact the Bloomberg News staff on this story: Jason Scott in Perth at jscott14@bloomberg.net
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