By Neil Hume

September 15, 2017 - South Africa’s contentious mining charter is definitely on hold until December.

Mineral resources minister Mosebenzi Zwane said on Thursday that he would not implement the new rules until a judgement had been handed down on a challenge brought by the Chamber of Mines, the body which represents the mining industry in South Africa.

The mining charter could require miners operating in South Africa, including Anglo American and Glencore, to permanently increase stakes held by black shareholders to 30 percent or more within a year in order to redress post-apartheid inequality in the industry.

An earlier charter set this level at 26 percent, but the latest version would have required miners to raise stakes up to the new limit even after previous black investors have sold out.


“In terms of the agreement, the Minister of Mineral Resources has given a written undertaking that the Reviewed Mining Charter will not be implemented until judgment has been handed down in respect of the Chamber’s review application, which has rendered the granting of an interdict by the court not necessary at this stage,” the Chamber of Mines said in a statement.

“The Minister has also undertaken that if he makes any reference in public to the Reviewed Mining Charter, he will simultaneously make reference to his written undertaking and that the Chamber has brought review proceedings to set aside the Charter.”

The case is due to be heard on December 13th and 14th.