President Jacob Zuma has defended the mining charter saying it empowers the allows the blacks to participate in the industry.
The reviewed Mining Charter has caused a lot of uncertainty for stakeholders and the markets by setting new black ownership targets for the industry. The Chamber of Mines vehemently rejected it, saying that the department did not hold meaningful consultations before the introduction of some of the items, and thus it would approach the courts to interdict its implementation. The targets include new mining rights, holders having 30 percent black ownership to be shared among employees, communities and black entrepreneurs. Mining rights holders who have complied with the previous target of 26 percent have to "top up" to 30 percent within 12 months.

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