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Cape Town - The government is reviewing its mining law to strengthen the penalty provisions for non-compliance of the mining charter, which aims to transfer ownership to previously excluded blacks, a government official said on Wednesday.
“We are looking at beefing up the penalty provisions that may be imposed on mining companies for non-compliance to serve as a deterrent and to ensure there is greater compliance,” Andre Andreas, director of mineral policy development at the department of mineral resources, told parliament.
Parliament is conducting public hearings on the amended charter, which aims at transforming the mining industry by transferring 26% of the key sector into black hands by 2014, a goal the mineral resource minister said on Saturday was attainable.
The mining charter, which first came into effect in 2002, was amended last year after mining companies in the world’s top platinum and major gold producer failed to significantly transform the economically important sector.
Only 8.9% of mines were owned by blacks in 2009, well below a target of 15%.
Andreas said it was too early to assess the impact of compliance to the amended charter, although early indications showed heightened interest among companies wary of falling foul of compliance targets, which ranged from ownership levels to better housing and living conditions for miners.
“I must say there has been a tremendous response by mining companies in terms of the inquiries directed towards the department for them to submit their reports,” he said.
“We are looking at beefing up the penalty provisions that may be imposed on mining companies for non-compliance to serve as a deterrent and to ensure there is greater compliance,” Andre Andreas, director of mineral policy development at the department of mineral resources, told parliament.
Parliament is conducting public hearings on the amended charter, which aims at transforming the mining industry by transferring 26% of the key sector into black hands by 2014, a goal the mineral resource minister said on Saturday was attainable.
The mining charter, which first came into effect in 2002, was amended last year after mining companies in the world’s top platinum and major gold producer failed to significantly transform the economically important sector.
Only 8.9% of mines were owned by blacks in 2009, well below a target of 15%.
Andreas said it was too early to assess the impact of compliance to the amended charter, although early indications showed heightened interest among companies wary of falling foul of compliance targets, which ranged from ownership levels to better housing and living conditions for miners.
“I must say there has been a tremendous response by mining companies in terms of the inquiries directed towards the department for them to submit their reports,” he said.
