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Ramatlhodi warns mine firms of audit

Johannesburg - Mineral Resources Minister Ngoako Ramatlhodi said on Tuesday he was forming teams of representatives from companies, labour and the government to audit the mining industry's compliance with rules under the mining charter.

The charter aims to address disparities rooted in the apartheid past, including a 2014 target of 26% black ownership of companies. A final assessment of the industry's compliance is expected by March of next year.

All three sides would have their input in the teams before the final outcome is unveiled, and the use of such teams will help "control outcomes and to remove tensions", the minister said.

Punitive measures

Mining companies that fail to meet the deadline can face fines and other punitive measures.

Ramatlhodi said the teams will accelerate the process of charter auditing, which he complained had been too slow.

One area of industry concern has been the possibility that the 26% black ownership target could be raised, but Ramatlhodi said this was not the current policy of the ruling African National Congress.

"We have not developed a policy that says we should change the targets," he said.

Strategic minerals

Ramatlhodi also announced on Tuesday that the mineral bill paves the way to declare certain minerals such as coal and iron ore as strategic for the country.

He said no minerals have been classified yet under the mineral and petroleum resources development amendment bill, which is before President Jacob Zuma.

"If that bill is signed into law, then it will give the minister the ability to declare certain minerals strategic for purposes of industrialisation in South Africa."

ALSO READ:
- SA could declare minerals as strategic
- Zuma holds fire in mineral bill


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