South Africa - 05

South Africa: Revised Mining Charter to Complicate Black Economic Empowerment

On 16 April Minister of Mineral Resources Mosebenzi Zwane published a draft review of the Broad-Based BEE Charter for the South Africa Mining and Minerals Industry, known as the Mining Charter. Although the Petroleum and Liquid Fuels Charter currently applies to the oil and gas industry, one of the important changes in the MPRDA Amendment Bill is to make the Mining Charter the key BEE code for the sector. This is significant because if IOCs are required to comply with the Mining Charter, they will need to meet a 26% BEE target rather than the 9% target set out in the Liquid Fuels Charter. Although an industry deal with the…

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