The Department of Mineral Resources (“DMR”) has recently released an updated draft of the Reviewed Broad-Based Black-Economic Empowerment Charter for the South African Mining Industry, 2016 (“Reviewed Mining Charter”).
The reviewed mining charter provides directives on how mines should transform in order to comply with the revised Broad-Based Black Economic Empowerment Act, No. 53 of 2003 (“BBBEE Act”) and the Codes of Good Practice (DTI Codes). The Minister of Mineral Resources, Mosebeni Zwane published the draft to strengthen the efficacy of the Mining Charter developed in terms section 100(2)(a) of the Mineral and Petroleum Resources Development Act, No 28 of 2002 (“MPRDA”), as a meaningful transformation of the South African mining and minerals industry.
The mining charter is thus an instrument to effect transformation with specific targets, in this case the mining industry in South Africa as a whole.
The question is – are you ready?
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