Publications
Partners
Cape Town – President Jacob Zuma on Thursday said he endorses the new Mining Charter gazetted on Thursday June 15, saying the revised regulations were drawn up in consultation with Cabinet.
Zuma was responding to questions in the National Assembly where Mmusi Maimane, leader of the Democratic Alliance, asked him if he supported the new charter, which has caused uncertainty in markets and has been widely condemned by business, labour and civil society.
The ANC also suggested that Mines Minister Mosebenzi Zwane did not consult with the ruling party’s economic transformation committee before releasing the charter, and said it is concerned about its impact on employment.
“What he (Zwane) has been doing (with the Mining Charter) was approved by Cabinet,” Zuma said. “We have said we need to do something to change the economy to ensure we ignite it. We could not stay at (the) same place without being innovative – particularly in mining.”
Mining has been in South Africa for centuries during boom times and economic decline and this is not the first time there has been a recession, Zuma said.
He emphasised that government couldn’t wait for the recession to pass before announcing the Mining Charter.
Zuma denied that the launch of the new regulations will be “an action that brings down the mining sector”.
“Not if you have a clear strategy. I believe this will bring about change in mining, including production. I believe in what the minister has done.”
'The people of SA elected me as leader'
Responding to a follow-up question from Cope MP Deidre Carter about the recession and sovereign credit rating downgrades, Zuma expressed doubt if MPs appreciate the global situation South Africa finds itself in.
“In terms of ratings agencies – South Africa is not the only country that has been downgraded,” Zuma said. “I don’t know what is wrong in those countries (that have been downgraded).
"Is it because of their leaders, or because of their economies, or whatever? But the way in which you discuss South Africa – it’s as if we’re the only country that has been downgraded.”
Zuma said the policies that were in place before and after 1994 need to be taken into consideration.
“And lastly, I’m not standing here because I said Jacob Zuma is a good leader. He was elected by the people of this country. And that is a reality,” Zuma said.
SUBSCRIBE FOR FREE UPDATE: Get Fin24's top morning business news and opinions in your inbox
