Miners’ Spat With South African Government Deepens Over Charter
- Lobby: ‘Dire consequences’ of new taxes, transformation agency
- Minerals Resources department to gazette charter next month
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South African mining companies warned of “dire consequences” for the industry if a revised Mining Charter is implemented next month as planned, deepening a long-running spat with the government.
Proposed new taxes on company revenue to fund a Mining Transformation and Development Agency would place additional burdens on producers that lost a combined 37 billion rand ($2.6 billion) last year, the Chamber of Mines said Thursday in an e-mailed statement. Anglo American Plc and Glencore Plc are among members of the lobby group, which said it was consulted only briefly and is concerned about what may be in the new charter.