Wed Aug 23 13:51:20 CAT 2017
 Jimmy   Manyi  was re-elected as president of the BMF. Pic: MARIANNE SCHWANKHART. 08/10/2009. © The Times.
Guptas sell The New Age and ANN7 to Manyi

The Guptas have agreed to sell their shares in The New Age newspaper and ANN7 channel to Lodidox‚ ow.

Mining Charter calls for 30% black ownership

By Allan Seccombe | 2017-06-15 12:23:40.0

Mining companies need to top up their black ownership levels to 30% from 26% within 12 months from the time the new Mining Charter comes into effect and companies seeking prospecting rights need black ownership of 50% plus one‚ Mineral Resources Minister Mosebenzi Zwane said on Thursday.

The release of the latest iteration of the third charter‚ which was boycotted by the Chamber of Mines‚ citing a flawed process during the formulation of the policy document‚ and trade union Solidarity‚ laid out requirements for companies to allocate shares to employees‚ nearby communities and black entrepreneurs.

Zwane referred to the 2017 charter as an “instrument for radical economic transformation” of the mining sector.

Mining boss calls for judicial inquiry on state capture 

“We cannot ignore the effective implementation of this charter to ensure meaningful change‚” he said.

The department was bulking up staffing to ensure compliance with the charter.

 

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