The revised Mining Charter has widely been accepted by the Minerals Council of South Africa and the sector.
Mineral Resources Minister Gwede Mantashe told delegates at the Johannesburg Indaba that the mining sector is not a sunset industry but a sunrise industry.
Mantashe also reckons that increased mining activity is likely to accelerate the country’s growth by more than 3%.
Industry leaders in the mining sector welcome what is now being called ” Mining Charter three”.
The Mining Charter which has now been gazetted is expected to restore confidence and policy certainty to the sector.
Mantashe has urged the sector to create employment and give young people employment opportunities.
Mantashe also urged the mining sector to view transformation as a business imperative.
The Minerals Council of South Africa says the new Mining Charter has restored a degree of certainty to the sector.
Meanwhile, the Council’s CEO, Roger Baxter told delegates that the idea of land expropriation without compensation has created uncertainty in the investment community. He says it’s one of the areas government needs resolve as quickly as possible.
While, economist, Thabi Leoka says one of the ways to stimulate an economy is through confidence.
She says while investors might not agree with certain clauses in the Mining Charter 3, it has restored certainty.
WATCH RELATED VIDEO BELOW:
