Black shareholder percentage in mining charter questioned: Zwane
The Minister of Mineral Resources, Mosebenzi Zwane, says delegates at the ANC's policy conference are not satisfied with the black shareholder percentage in the mining charter.
The charter contains a new clause that states that all mining companies must have 30 percent black empowerment shareholding within 12 months, irrespective of whether they previously had black empowerment partners who had sold their stakes.
Zwane says delegates want the percentage increased to 50 percent.
"They are happy with the content, but they are saying that in time we must go above 50 percent. We will go back and relook," says Zwane.
He says the delegates are satisfied with the charter.
"We are implementing the ANC policy, nothing else. It's not my policy. It's not the department's view. It is what the ANC wants us to implement," says Zwane.
Zwane says they will meet with the Chamber of Mines soon, who has been opposed to the new mining charter.
"The chamber is one of our stakeholders. We will engage with them and hear them out. We don't want to ridicule them, because that is not our policy. When one of our stakeholders cry out, we call them and ask them what their problem is," says Zwane.
Zwane says they understand the chamber's view.
"They are business. They want to make profit. We say we must share the economy of the country from the minority's end to the people of South Africa. It will take time."