South Africa Eases Free-Carry Rules in Final Mining Charter
- Details of new mining rules to be gazetted soon, Mantashe says
- Charter aimed at distributing mineral wealth more equally
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South Africa eased some of the more controversial provisions in a final version of its Mining Charter approved by the cabinet this week as the government seeks to provide policy certainty and ease investor concerns.
While holders of new mining rights must still give employees a 5 percent stake in the assets, they can choose to offset another 5 percent for nearby communities by investing in community development instead, Mineral Resources Minister Gwede Mantashe said Thursday. Separately, the cabinet also approved a plan to withdraw the long-delayed Mineral and Petroleum Resources Development Amendment Bill, he said.