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South Africa's mining minister, Gwede Mantashe, said Sunday he would extend his one-month period to solicit public comment on the mining industry charter, which sets out requirements
for black ownership levels and other targets.
Uncertainty over the charter has hindered industry investment
in the world's top platinum producer.
"Extend the period for public comment until the end of August to give people the opportunity to participate more and comment and submit changes
," Mantashe said.
”
Draft charters released last month would require existing mining license holders to raise the level of black ownership from 26 percent to 30 percent, extending the period from one year to five years
.
It also made a requirement that 10 percent of applicants for new mining rights (a third of the 30 percent black ownership target) be made available free of charge to the community and eligible employees, known as "free carrying," but this was opposed by the South African Minerals Commission
, the industry body.
The charter, which was open for public comment before becoming law, is part of a process in South Africa aimed at reversing decades of exclusion under apartheid
.
South Africa's mining minister, Gwede Mantashe, said Sunday he would extend his one-month period to solicit public comment on the mining industry charter, which sets out requirements
for black ownership levels and other targets.
Uncertainty over the charter has hindered industry investment
in the world's top platinum producer.
"Extend the period for public comment until the end of August to give people the opportunity to participate more and comment and submit changes
," Mantashe said.
”
Draft charters released last month would require existing mining license holders to raise the level of black ownership from 26 percent to 30 percent, extending the period from one year to five years
.
It also made a requirement that 10 percent of applicants for new mining rights (a third of the 30 percent black ownership target) be made available free of charge to the community and eligible employees, known as "free carrying," but this was opposed by the South African Minerals Commission
, the industry body.
The charter, which was open for public comment before becoming law, is part of a process in South Africa aimed at reversing decades of exclusion under apartheid
.
