Chamber of Mines livid at minister’s report
The Chamber of Mines said its own findings were that mining companies were entirely in compliance with the charter’s ownership targets. The Chamber of Mines will respond to Mineral Resources Minister Ngoako Ramatlhodi’s surprise announcement of his department’s findings that the industry had fallen well short of most of the targets of the 2014 Mining Charter‚ the newspaper reported.The reason for the discrepancy is that the department’s definition of meaningful economic participation includes not only equity deals with entrepreneurs but also ownership by employees and communities.There is also a difference of opinion on the principle of "once empowered‚ always empowered". The department does not count deals from which the empowerment participants have sold out.The Chamber of Mines complained in a statement that it had been agreed that the department would not release its ownership data at this point...
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