Govt sets new targets in revised draft mining charter

JOHANNESBURG – Government wants to raise black mine ownership to 30-percent over the next five years.

This is one of the targets in a revised draft mining charter which was released for public comment yesterday by Minister of Mineral Resources Gwede Mantashe.

It replaces the controversial charter released a year ago by Mantashe’s predecessor, Mosebenzi Zwane.

Mining companies agreed to postpone a legal challenge to Zwane’s charter after President Cyril Ramaphosa said he was committed to finding a solution to the dispute.

The new draft gives existing mine permit holders five years, instead of one year, to meet the new black ownership requirement.

It also addresses a dispute under the previous charter over companies in which black investors have sold their shares.

Such a company will now be seen as  BEE compliant and has five years to reach 30-percent black ownership.

New Draft Charter

–     Existing permit holders have five years to meet black ownership requirement

–     If black shareholders sell shares, company remains compliant

–     At least 50% of seats on boards reserved for black South Africans

–     1% profits paid to employees and communities

–     70% of procurement budget spent on goods made in South Africa

 

Source: eNCA

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. In addition to his media ventures, Solomon serves as a Brand Ambassador for Alabuga, a prominent Russian industrial company, representing their interests and expansion across Africa. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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